B.Riley FBR Sticks to Their Buy Rating for Hannon Armstrong (HASI)

By Jason Carr

B.Riley FBR analyst Carter Driscoll reiterated a Buy rating on Hannon Armstrong (HASIResearch Report) today and set a price target of $26. The company’s shares opened today at $24, close to its 52-week high of $24.66.

Driscoll noted:

“Hannon Armstrong (HASI – Buy, $26 PT) delivered a significant 4Q18 beat, delivering 4Q18 revenues of $39.2M, up 31% Y/Y , and $0.37 in core operating Y/Y , and ~$0.06 ahead of our estimates and Street consensus. The beat was driven by higher securitizations but also greater portfolio additions at rising forward yields. HASI originated ~$330M in transactions in 4Q18, well ahead of our $200M estimate, and a record $1.2B in transactions overall in 2018. Management discussed strength across all of its end markets, particularly highlighting the behind-the-meter (BTM) segment that includes distributed solar, storage, and energy efficiency.”

According to TipRanks.com, Driscoll is ranked 0 out of 5 stars with an average return of -8.2% and a 32.1% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Amer Superconductor, Ceco Environmental, and Fuelcell Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hannon Armstrong with a $25.33 average price target, implying a 5.5% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $27 price target.

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Based on Hannon Armstrong’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $16.27 million. In comparison, last year the company had a GAAP net loss of $17K.

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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.