Ameresco (NYSE:AMRC) Receives “Outperform” Rating from Robert W. Baird

Ameresco (NYSE:AMRC)‘s stock had its “outperform” rating reissued by Robert W. Baird in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $32.00 price target on the utilities provider’s stock. Robert W. Baird’s price target indicates a potential upside of 6.28% from the stock’s current price.

A number of other equities research analysts also recently commented on AMRC. StockNews.com raised Ameresco to a “sell” rating in a report on Saturday, August 17th. Piper Sandler decreased their price objective on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus dropped their price objective on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. B. Riley raised shares of Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, UBS Group boosted their target price on shares of Ameresco from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

Ameresco Trading Up 1.4 %

NYSE AMRC opened at $30.11 on Tuesday. Ameresco has a 52 week low of $17.55 and a 52 week high of $47.56. The company has a 50 day moving average price of $29.69 and a 200 day moving average price of $26.53. 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 $1.58 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 0.86 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The business had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. As a group, sell-side analysts forecast that Ameresco will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mark Chiplock sold 3,000 shares of the 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 transaction, the chief accounting officer now owns 348 shares in the company, valued at approximately $12,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Mark Chiplock sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $35.00, for a total transaction of $105,000.00. Following the completion of the sale, the chief accounting officer now owns 348 shares of the company’s stock, valued at $12,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.53, for a total transaction of $132,650.00. Following the transaction, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The disclosure for this sale can be found here. 42.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Asset Management Holding S.A. purchased a new position in shares of Ameresco in the fourth quarter worth about $22,650,000. LGT Group Foundation purchased a new position in Ameresco in the 2nd quarter worth approximately $20,325,000. Swedbank AB acquired a new position in shares of Ameresco during the 1st quarter worth approximately $12,065,000. Point72 Asset Management L.P. acquired a new position in shares of Ameresco during the 2nd quarter worth approximately $10,821,000. Finally, First Trust Advisors LP grew its position 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 purchasing an additional 297,236 shares in the last quarter. Hedge funds and other 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.