Ameresco (NYSE:AMRC) PT Lowered to $35.00 at Piper Sandler

Ameresco (NYSE:AMRC) had its price objective reduced by Piper Sandler from $37.00 to $35.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other brokerages have also weighed in on AMRC. Oppenheimer reissued a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. B. Riley upgraded Ameresco to a strong-buy rating in a research note on Tuesday, June 25th. StockNews.com upgraded Ameresco to a sell rating in a research note on Monday, July 1st. Stifel Nicolaus decreased their target price on Ameresco from $35.00 to $32.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, UBS Group lifted their target price on Ameresco from $36.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $38.00.

Ameresco Stock Up 3.7 %

Shares of Ameresco stock opened at $28.96 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.52 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.86 and a beta of 1.78. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $51.94. The business has a 50-day moving average price of $31.30 and a 200 day moving average price of $25.95.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, sell-side analysts forecast that Ameresco will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Ameresco

In other news, CAO Mark Chiplock sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total transaction of $105,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 348 shares in the company, valued at $12,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 42.00% of the company’s stock.

Institutional Investors Weigh In On Ameresco

A number of institutional investors have recently added to or reduced their stakes in AMRC. BNP Paribas Asset Management Holding S.A. acquired a new stake in Ameresco in the fourth quarter worth approximately $22,650,000. LGT Group Foundation acquired a new stake in Ameresco in the second quarter worth approximately $20,325,000. Swedbank AB acquired a new stake in Ameresco in the first quarter worth approximately $12,065,000. First Trust Advisors LP increased its holdings in shares of Ameresco by 59.9% in the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock valued at $25,128,000 after buying an additional 297,236 shares in the last quarter. Finally, Redwood Grove Capital LLC bought a new position in shares of Ameresco in the first quarter valued at $7,170,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.