Ameresco (NYSE:AMRC) PT Raised to $38.00 at Piper Sandler

Ameresco (NYSE:AMRC) had its target price increased by Piper Sandler from $35.00 to $38.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

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

Ameresco Stock Performance

NYSE:AMRC opened at $29.98 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. Ameresco has a twelve month low of $17.55 and a twelve month high of $39.68. The company has a fifty day moving average of $32.67 and a 200-day moving average of $30.03. The firm has a market capitalization of $1.57 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.21 and a beta of 1.79.

Ameresco (NYSE:AMRC) last posted 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). The company had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. As a group, sell-side analysts anticipate that Ameresco will post 1.16 EPS for the current year.

Insider Activity

In related 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 value of $132,650.00. Following the transaction, the chief financial officer now owns 1,878 shares in the company, valued at approximately $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 5,221 shares of company stock valued at $140,814 in the last three months. Company insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis purchased a new stake in shares of Ameresco during the 1st quarter valued at approximately $480,000. Harbor Capital Advisors Inc. lifted its position in shares of Ameresco by 187.8% during the second quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after acquiring an additional 44,882 shares in the last quarter. Swedbank AB bought a new position in shares of Ameresco in the first quarter worth $12,065,000. Connors Investor Services Inc. boosted its holdings in shares of Ameresco by 35.4% in the first quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock worth $3,449,000 after acquiring an additional 37,368 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Ameresco in the first quarter valued at $1,009,000. Institutional investors own 99.24% of the company’s stock.

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.