Ameresco, Inc. (NYSE:AMRC) Receives Average Rating of “Moderate Buy” from Brokerages

Ameresco, Inc. (NYSE:AMRC) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $38.46.

A number of brokerages have weighed in on AMRC. 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. B. Riley raised Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. Piper Sandler reduced their target price on Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. UBS Group raised their target price on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Jefferies Financial Group started coverage on Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock.

Insiders Place Their Bets

In other news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of Ameresco by 358.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,906 shares of the utilities provider’s stock worth $945,000 after acquiring an additional 19,478 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Ameresco in the 2nd quarter valued at about $86,000. Maven Securities LTD bought a new stake in Ameresco in the 2nd quarter valued at about $360,000. Point72 Asset Management L.P. bought a new stake in Ameresco in the 2nd quarter valued at about $10,821,000. Finally, Ironwood Investment Management LLC increased its position in Ameresco by 60.1% in the 2nd quarter. Ironwood Investment Management LLC now owns 22,895 shares of the utilities provider’s stock valued at $660,000 after buying an additional 8,599 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

Ameresco Price Performance

Ameresco stock opened at $34.68 on Wednesday. The stock’s fifty day moving average price is $31.60 and its two-hundred day moving average price is $29.12. Ameresco has a one year low of $17.55 and a one year high of $39.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $1.82 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.79.

Ameresco (NYSE:AMRC) last issued its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The business had revenue of $437.98 million during the quarter, compared to analyst estimates of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. As a group, research analysts expect that Ameresco will post 1.16 EPS for the current fiscal year.

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.