Ameresco (NYSE:AMRC) Stock Price Up 7.8% – Time to Buy?

Ameresco, Inc. (NYSE:AMRC) shot up 7.8% on Wednesday . The company traded as high as $28.26 and last traded at $28.24. 18,988 shares changed hands during trading, a decline of 96% from the average session volume of 467,624 shares. The stock had previously closed at $26.19.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMRC shares. StockNews.com raised Ameresco to a “sell” rating in a research report on Tuesday, November 12th. 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 target on the stock. Robert W. Baird upped their price objective on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler lifted their target price on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, UBS Group upped their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.91.

Ameresco Trading Up 10.3 %

The firm has a 50-day moving average of $32.05 and a 200 day moving average of $31.29. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 0.94 and a beta of 1.82.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Ameresco by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 1,410 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Ameresco by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock valued at $75,909,000 after acquiring an additional 36,303 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Ameresco by 51.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,931 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 3,374 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Ameresco in the 1st quarter worth $259,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Ameresco by 34.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,931 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 6,875 shares during the last quarter. 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.