Ameresco Inc Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Noah Kaye maintained a Buy rating on Ameresco Inc (NYSE: AMRC) today and set a price target of $13. The company’s shares closed yesterday at $12.10, close to its 52-week high of $13.20.

Kaye said:

“We recently hosted CFO John Granara for investor meetings and came away incrementally confident in Ameresco’s ability to execute on its growth strategy. The business has clearly transformed over the past three years, with recurring contributions from O&M and on-balance sheet energy assets (>70% of adj. EBITDA) boosting earnings quality. AMRC also remains a top player in the ESCO market, differentiating against large multi-industrial competitors via (1) a product-agnostic approach to lowering resource consumption and (2) technical expertise across a wide range of energy efficiency and renewable energy technologies. With view to record project backlog, a healthy energy asset pipeline and solid execution to date, we maintain our Outperform rating.”

According to TipRanks.com, Kaye is a 4-star analyst with an average return of 5.4% and a 51.2% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, BorgWarner, and Cummins.

Ameresco Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.25.

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The company has a one-year high of $13.20 and a one-year low of $5.25. Currently, Ameresco Inc has an average volume of 150.5K.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMRC in relation to earlier this year. Last month, Louis Maltezos, the EVP of AMRC bought 2,000 shares for a total of $12,120.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ameresco, Inc. engages in the provision of comprehensive energy services. It offers energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe.

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