Ameresco Inc. Class A (AMRC, $65.27) “A Cleaner Future” Still a Hold
By: Drew Kolz, AIM Student at Marquette University
· Ameresco Inc. Class A (NYSE:AMRC) engages in the provision of comprehensive energy efficiency and renewable energy solutions for businesses throughout North America and Europe.
· Ameresco has reached a total addressable global market of more than $150B in 2021.
· There is a strong vision for the future with over $2.2B in project backlogs and $1.1B in O&M backlog.
· Earnings forecasts continue to rise with growing higher margin recurring lines of business.
· Ameresco will continue to grow from the Biden Administration investing resources into renewable energy sources.
Key Points: As the demand for renewable energy sources continue to rise, so does Ameresco’s total addressable global market. Sitting at $150B in 2021, Ameresco still has room to grow. Since 2017 the company has seen a steady increase in the total addressable global market. Furthermore, management expects that number to be reach over $250B by 2026.
Earnings forecasts surrounding Ameresco continue to trend upwards. As recurring lines of business continue to increase their margins, Ameresco excepts to continue to see a rise in their earnings. Furthermore, as the leading independent provider in the United States for renewable energy and comprehensive energy efficiency, Biden’s plan to invest in renewable energy companies should benefit this company.
Over the past 3 months, Ameresco has generated a 57.10% return. In fact, Ameresco just recently reached their 52-week high of $65.46 to start the month of February. Despite reaching this high, the company is exhibiting no signs of slowing down. As Ameresco’s market continues to grow, so should their stock price.
Past Year Performance: