In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Ameresco Inc (NYSE: AMRC), with a price target of $17. The company’s shares closed yesterday at $14.45, close to its 52-week high of $15.35.
Kaye wrote:
“AMRC beat 2Q18 top/bottom line consensus on broad-based strength and raised FY18 adj. EPS guidance midpoint 6% above the Street. New awards lifted both total and fully contracted backlog to record levels, and management stated that its TAM has expanded from $8-9B in the traditional ESPC business to $20-30B for a diversified set of distributed power/efficiency opportunities. Progress continues on buildout of company-owned energy assets (both RNG and solar) that should support meaningful EBITDA growth in FY19 and beyond. Fundamentally, we believe AMRC is delivering on the business transformation it began several years ago, translating to higher, more predictable earnings growth. We raise our estimates and increase our PT to $17 (from $13) on view to higher long-term earnings/FCF power in the operating model.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 6.2% and a 56.7% 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 $17.
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Ameresco Inc’s market cap is currently $657M and has a P/E ratio of 14.60. The company has a Price to Book ratio of 1.93.
Based on the recent corporate insider activity of 37 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. Most recently, in May 2018, 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.
