Ameresco (NYSE:AMRC) Given New $38.00 Price Target at Piper Sandler

Ameresco (NYSE:AMRC) had its price objective lifted by equities researchers at Piper Sandler from $35.00 to $38.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 25.50% from the company’s previous close.

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. StockNews.com upgraded Ameresco to a “sell” rating in a report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock. UBS Group boosted their target price on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird raised their target price on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Ameresco Stock Down 1.5 %

NYSE:AMRC traded down $0.46 on Tuesday, hitting $30.28. 46,166 shares of the company’s stock traded hands, compared to its average volume of 475,733. The company has a market cap of $1.58 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. Ameresco has a 1 year low of $17.55 and a 1 year high of $39.68. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $32.64 and a 200-day moving average price of $29.97.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. Equities analysts anticipate that Ameresco will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares in the company, valued at $49,823.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameresco

A number of institutional investors have recently added to or reduced their stakes in AMRC. Vanguard Group Inc. lifted its holdings in Ameresco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock valued at $98,479,000 after purchasing an additional 41,199 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ameresco by 20.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,966 shares of the utilities provider’s stock valued at $1,157,000 after acquiring an additional 7,995 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Ameresco by 23.8% in the 1st quarter. Inspire Investing LLC now owns 14,906 shares of the utilities provider’s stock worth $360,000 after acquiring an additional 2,869 shares in the last quarter. Russell Investments Group Ltd. grew its position in Ameresco by 11.6% during the 1st quarter. Russell Investments Group Ltd. now owns 82,273 shares of the utilities provider’s stock worth $1,985,000 after acquiring an additional 8,542 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Ameresco by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 1,410 shares in the last quarter. 99.24% of the stock is 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.