Oppenheimer analyst Noah Kaye maintained a Buy rating on Ameresco Inc (AMRC) today and set a price target of $17. The company’s shares closed yesterday at $14.73.
Kaye observed:
“We recently hosted investor meetings with AMRC CEO George Sakellaris and interim CFO Mark Chiplock. Despite the shares’ strong performance YTD, we believe AMRC’s business transformation remains underappreciated. First, its traditional energy efficiency retrofit project business has evolved to include a range of distributed generation, energy storage and microgrid technologies, more than doubling the company’s TAM to $20B, raising backlog to record levels, and supporting its competitive differentiation. Second, strategic development of its long-term, on- balance sheet energy asset portfolio has shifted EBITDA mix significantly in favor of annuity-like, recurring revenue streams. Based on these trends, we believe AMRC has line of sight to multiple years of 15-20% EBITDA growth. We maintain our Outperform rating and $17 price target.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 3.6% and a 53.9% success rate. Kaye covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Waste Connections Inc, and Republic Services.
Ameresco Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.83.
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Ameresco Inc’s market cap is currently $677.2M and has a P/E ratio of 13.54. The company has a Price to Book ratio of 1.86.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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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.
