Ameresco (NYSE:AMRC) Trading 6.9% Higher

Ameresco, Inc. (NYSE:AMRC)’s stock price rose 6.9% during trading on Tuesday . The stock traded as high as $20.46 and last traded at $20.41. Approximately 38,009 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 534,810 shares. The stock had previously closed at $19.09.

Wall Street Analysts Forecast Growth

AMRC has been the topic of several research reports. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Raymond James decreased their price target on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. B. Riley decreased their price target on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Piper Sandler cut their price objective on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Finally, Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Ameresco Price Performance

The firm’s fifty day moving average price is $21.24 and its two-hundred day moving average price is $25.63. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.11 billion, a PE ratio of 17.25, a PEG ratio of 0.54 and a beta of 1.56.

Ameresco (NYSE:AMRC) last issued its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million during the quarter, compared to analyst estimates of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. Ameresco’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, equities analysts predict that Ameresco, Inc. will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after acquiring an additional 176,971 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Ameresco by 32.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock worth $10,975,000 after buying an additional 69,997 shares during the period. Boston Partners purchased a new stake in shares of Ameresco in the third quarter worth about $2,143,000. Deutsche Bank AG grew its position in Ameresco by 16.6% during the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after buying an additional 2,426 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Ameresco by 20.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock worth $11,275,000 after purchasing an additional 48,737 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.