Ameresco (NYSE:AMRC) Price Target Raised to $32.00 at Robert W. Baird

Ameresco (NYSE:AMRC) had its price target lifted by research analysts at Robert W. Baird from $28.00 to $32.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s price objective points to a potential upside of 18.91% from the company’s previous close.

Several other brokerages also recently issued reports on AMRC. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Canaccord Genuity Group reduced their price target on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Piper Sandler decreased their price objective on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Raymond James dropped their target price on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Ameresco in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and an average target price of $40.92.

Ameresco Stock Up 21.0 %

Shares of NYSE:AMRC opened at $26.91 on Thursday. The company’s fifty day moving average is $21.28 and its 200-day moving average is $24.73. 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 52 week low of $17.55 and a 52 week high of $63.19. The company has a market capitalization of $1.41 billion, a PE ratio of 22.81, a P/E/G ratio of 0.65 and a beta of 1.60.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. Equities research analysts predict that Ameresco will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Ameresco

A number of hedge funds have recently modified their holdings of the company. Quest Partners LLC bought a new position in Ameresco during the fourth quarter worth about $62,000. Cetera Trust Company N.A bought a new stake in Ameresco during the 4th quarter worth approximately $106,000. Quantbot Technologies LP acquired a new stake in Ameresco during the 3rd quarter worth approximately $295,000. Inspire Investing LLC boosted its holdings in shares of Ameresco by 25.1% in the third quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,607 shares during the period. Finally, TIAA Trust National Association bought a new stake in shares of Ameresco during the third quarter worth $328,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

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.