Ameresco (NYSE:AMRC) Price Target Raised to $39.00

Ameresco (NYSE:AMRC) had its price objective boosted by UBS Group from $36.00 to $39.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Several other brokerages have also recently issued reports on AMRC. Oppenheimer reiterated a market perform rating on shares of Ameresco in a research report on Wednesday, April 17th. Canaccord Genuity Group decreased their target price on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. BNP Paribas upgraded Ameresco from a neutral rating to an outperform rating and set a $34.00 price objective for the company in a report on Tuesday, March 12th. Truist Financial dropped their target price on shares of Ameresco from $40.00 to $37.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Guggenheim reiterated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameresco currently has an average rating of Moderate Buy and a consensus price target of $40.31.

Ameresco Price Performance

Shares of AMRC stock opened at $27.35 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.96 and a current ratio of 0.97. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19. The firm has a market cap of $1.43 billion, a P/E ratio of 24.86, a P/E/G ratio of 0.81 and a beta of 1.60. The business’s 50 day moving average price is $22.46 and its 200-day moving average price is $24.75.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million for the quarter, compared to analysts’ expectations of $255.38 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, equities research analysts anticipate that Ameresco will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in Ameresco by 1.0% during the 3rd quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock valued at $1,730,000 after buying an additional 465 shares during the last quarter. Bridge City Capital LLC boosted its position in Ameresco by 0.8% in the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 622 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after acquiring an additional 752 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ameresco by 5.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,941 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 800 shares in the last quarter. Finally, Otter Creek Advisors LLC lifted its position in Ameresco by 1.2% during the fourth quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after purchasing an additional 818 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

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.