B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on Hannon Armstrong (HASI) today and set a price target of $29. The company’s shares closed yesterday at $26.51, close to its 52-week high of $27.22.
Van Horn noted:
“Hannon Armstrong (HASI – Buy, $29 PT) reported 1Q19 GAAP revenues of $32.893M and $0.33 in core operating EPS, which were above expectations. Core business trends are favorable, and the pipeline remains strong, at well over $2.5B. HASI had $319M in transactions closed during the quarter, which is slightly ahead of our expectations of $300M. Forward yields rose to 6.9%, from 6.8% Q/Q (and from 6.1% in 2017 and 6.8% in 2018), on its roughly $2.0B portfolio as the company continues to add solid investments. Management reiterated its 2019–2020 guidance, at 2%–6% growth in core earnings ($1.37/$1.43 share, respectively, in core earnings at the midpoint), which shows its business-model strength/flexibility and some early signs that pricing power is improving.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.3% and a 48.1% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Hickok Incorporated.
Currently, the analyst consensus on Hannon Armstrong is a Strong Buy with an average price target of $28.10, a 6.0% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $30 price target.
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The company has a one-year high of $27.22 and a one-year low of $17.76. Currently, Hannon Armstrong has an average volume of 396.1K.
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Hannon Armstrong Sustainable Infrastructure Capital, Inc. engages in focusing on solutions that reduce carbon emissions and increase resilience to climate change by providing capital and specialized expertise to companies in the energy efficiency, renewable energy and other sustainable infrastructure markets.
