In a report released on March 5, Stephen Gengaro from Stifel Nicolaus maintained a Buy rating on Ameresco (AMRC – Research Report), with a price target of $35.00. The company’s shares closed yesterday at $19.62.
Gengaro covers the Energy sector, focusing on stocks such as Core Laboratories, DMC Global, and Baker Hughes Company. According to TipRanks, Gengaro has an average return of 1.6% and a 36.89% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ameresco with a $36.13 average price target, implying an 84.15% upside from current levels. In a report released on February 29, Craig-Hallum also maintained a Buy rating on the stock with a $35.00 price target.
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Based on Ameresco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $441.37 million and a net profit of $33.74 million. In comparison, last year the company earned a revenue of $331.73 million and had a net profit of $17.94 million
Based on the recent corporate insider activity of 30 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 January 2024, Michael Bakas, the EVP of AMRC bought 5,750.00 shares for a total of $46,737.50.
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 (AMRC) Company Description:
Ameresco, Inc. engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation, and All Other. The U.S. Regions, U.S. Federal, and Canada segments offer energy efficiency products and services, such as design, engineering and installation of equipment and other measures to improve the efficiency and control the operation of a facility’s energy infrastructure; and renewable energy solutions and services. The Non-Solar Distributed Generation sells electricity, processed renewable gas fuel, heat or cooling, produced from renewable sources of energy, other than solar, and generated by small-scale plants; and operations and maintenance services for customer owned small-scale plants. The All Other segment enterprise energy management services, consulting services and integrated-PV. The company was founded by George P. Sakellaris on April 25, 2000 and is headquartered in Framingham, MA.
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