Ameresco (NYSE:AMRC) PT Lowered to $37.00 at Truist Financial

Ameresco (NYSE:AMRC) had its target price decreased by Truist Financial from $40.00 to $37.00 in a research note published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the utilities provider’s stock.

Several other equities analysts also recently commented on the company. BNP Paribas upgraded Ameresco from a neutral rating to an outperform rating and set a $34.00 price target on the stock in a report on Tuesday, March 12th. Guggenheim reiterated a neutral rating on shares of Ameresco in a report on Thursday, February 29th. Raymond James lowered their price target on Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, April 3rd. Oppenheimer restated a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Ameresco to a sell rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Ameresco currently has an average rating of Moderate Buy and a consensus target price of $44.69.

Ameresco Price Performance

Shares of AMRC opened at $20.97 on Monday. The firm has a market cap of $1.10 billion, a PE ratio of 17.77, a PEG ratio of 0.60 and a beta of 1.56. The firm’s 50 day moving average price is $21.17 and its 200 day moving average price is $25.51. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. Ameresco has a twelve month low of $17.55 and a twelve month high of $63.19.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. During the same quarter last year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, research analysts expect that Ameresco will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Ameresco

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Ameresco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock worth $98,479,000 after buying an additional 41,199 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Ameresco by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock valued at $107,181,000 after acquiring an additional 150,000 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Ameresco by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock valued at $28,890,000 after acquiring an additional 110,204 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Ameresco by 59.9% during the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock valued at $25,128,000 after acquiring an additional 297,236 shares during the period. Institutional investors and hedge funds 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.