Ameresco (NYSE:AMRC) PT Raised to $38.00

Ameresco (NYSE:AMRC) had its target price lifted by equities researchers at Piper Sandler from $35.00 to $38.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s target price would suggest a potential upside of 23.46% from the company’s current price.

Other equities analysts have also issued research reports about the stock. UBS Group lifted their target price on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. B. Riley upgraded Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Robert W. Baird increased their target price on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com raised Ameresco to a “sell” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Ameresco Price Performance

AMRC stock opened at $30.78 on Tuesday. The company has a market cap of $1.61 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $32.75 and a two-hundred day moving average price of $30.03. Ameresco has a 12-month low of $17.55 and a 12-month high of $39.68.

Ameresco (NYSE:AMRC) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The business had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. As a group, research analysts predict that Ameresco will post 1.16 EPS for the current year.

Insider Buying and Selling

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.53, for a total transaction of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares in the company, valued at $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 5,221 shares of company stock worth $140,814. Corporate insiders own 42.00% of the company’s stock.

Institutional Trading of Ameresco

A number of institutional investors and hedge funds have recently modified their holdings of the business. LGT Group Foundation acquired a new position in shares of Ameresco in the 2nd quarter valued at about $20,325,000. Swedbank AB bought a new position in shares of Ameresco during the first quarter valued at approximately $12,065,000. Point72 Asset Management L.P. acquired a new stake in shares of Ameresco during the 2nd quarter worth approximately $10,821,000. Redwood Grove Capital LLC bought a new stake in shares of Ameresco in the 1st quarter worth approximately $7,170,000. Finally, American Century Companies Inc. boosted its position in Ameresco by 190.4% during the 2nd quarter. American Century Companies Inc. now owns 184,281 shares of the utilities provider’s stock valued at $5,309,000 after purchasing an additional 120,833 shares during the period. 99.24% of the stock is owned by institutional investors and hedge funds.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.