Ameresco (NYSE:AMRC) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Ameresco (NYSE:AMRC) in a research note published on Wednesday morning, Marketbeat reports. The firm issued a hold rating and a $33.00 target price on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com upgraded Ameresco to a sell rating in a report on Saturday, August 17th. B. Riley upgraded Ameresco to a strong-buy rating in a report on Tuesday, June 25th. Robert W. Baird reiterated an outperform rating and issued a $32.00 price objective on shares of Ameresco in a report on Tuesday, August 27th. Piper Sandler dropped their price objective on Ameresco from $37.00 to $35.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. Finally, Stifel Nicolaus dropped their price objective on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $37.69.

Ameresco Price Performance

Shares of NYSE AMRC opened at $29.41 on Wednesday. The stock’s 50-day moving average is $29.37 and its two-hundred day moving average is $26.93. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. Ameresco has a 1-year low of $17.55 and a 1-year high of $47.56. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.78.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results 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). Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The company had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. During the same quarter last year, the company earned $0.15 EPS. Ameresco’s revenue for the quarter was up 33.9% compared to the same quarter last year. Analysts forecast that Ameresco will post 1.15 EPS for the current fiscal year.

Insider Activity at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Large investors have recently modified their holdings of the business. Rock Point Advisors LLC raised its stake in shares of Ameresco by 97.8% during the 4th quarter. Rock Point Advisors LLC now owns 255,312 shares of the utilities provider’s stock worth $8,086,000 after buying an additional 126,204 shares in the last quarter. Natixis purchased a new position in Ameresco in the 1st quarter valued at approximately $480,000. Harbor Capital Advisors Inc. increased its stake in Ameresco by 187.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock valued at $1,982,000 after purchasing an additional 44,882 shares in the last quarter. Swedbank AB purchased a new position in Ameresco in the 1st quarter valued at approximately $12,065,000. Finally, Connors Investor Services Inc. increased its stake in Ameresco by 35.4% in the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock valued at $3,449,000 after purchasing an additional 37,368 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

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.