B.Riley FBR analyst Carter Driscoll maintained a Buy rating on Hannon Armstrong (NYSE: HASI) on July 6 and set a price target of $26. The company’s shares opened today at $19.74.
Driscoll commented:
“We hosted Hannon Armstrong’s (HASI) for investor meetings. Our key takeaways: 1) securitizations offer HASI flexibility until rate spreads normalize, 2) HASI is prioritizing credit quality over riskier growth, 3) HASI’s diversified end markets offer defensive characteristics, 4) HASI is a direct play on sustainable investing, 5) HASI is the beneficiary of growing/sizable C- PACE market, and 6) HASI pays a secure dividend that offers downside protection. Investors were focused on understanding the portfolio’s credit quality, business model flexibility, sustainable investment angle, and exposure to the yield curve. We remain convinced that HASI is one of the best operators in the alternative energy landscape with commitment to renewable power generation, carbon reduction, and growing sustainable shareholder returns.”
According to TipRanks.com, Driscoll ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.3% and a 35.1% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
Hannon Armstrong has an analyst consensus of Moderate Buy, with a price target consensus of $24.
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Based on Hannon Armstrong’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.72 million. In comparison, last year the company had a net profit of $11.94 million.
Based on the recent corporate insider activity of 43 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 HASI in relation to earlier this year.
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Hannon Armstrong Sustainable Infrastructure Capital, Inc. engages in the provision of capital and services focuses on reducing climate changing greenhouse gas emissions. It involves in the energy efficiency, renewable energy, and other sustainable infrastructure markets. The company was founded on November 7, 2012 and is headquartered in Annapolis, MD.
