Brokerages Set Ameresco, Inc. (NYSE:AMRC) Price Target at $40.31

Shares of Ameresco, Inc. (NYSE:AMRC) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $40.85.

Several equities research analysts have recently issued reports on AMRC shares. StockNews.com raised shares of Ameresco to a “sell” rating in a research note on Monday, July 1st. Truist Financial cut their price objective on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Raymond James cut their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th.

Insider Activity

In other news, CAO Mark Chiplock sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the completion of the sale, the chief accounting officer now directly owns 348 shares of the company’s stock, valued at $12,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 42.00% of the company’s stock.

Institutional Investors Weigh In On Ameresco

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Ameresco in the fourth quarter valued at about $62,000. GAMMA Investing LLC raised its holdings in shares of Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after buying an additional 2,880 shares during the last quarter. Cetera Trust Company N.A acquired a new position in shares of Ameresco during the fourth quarter worth about $106,000. SG Americas Securities LLC acquired a new position in shares of Ameresco during the second quarter worth about $156,000. Finally, Northside Capital Management LLC acquired a new position in shares of Ameresco during the second quarter worth about $216,000. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Stock Performance

Shares of AMRC stock opened at $32.31 on Friday. The company has a market cap of $1.69 billion, a PE ratio of 29.37, a PEG ratio of 0.94 and a beta of 1.78. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09. Ameresco has a 12-month low of $17.55 and a 12-month high of $59.66. The business’s fifty day simple moving average is $31.78 and its 200-day simple moving average is $25.61.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The company had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Analysts expect that Ameresco will post 1.38 earnings per share for the current fiscal year.

About Ameresco

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.