Piper Sandler Boosts Ameresco (NYSE:AMRC) Price Target to $38.00

Ameresco (NYSE:AMRC) had its price objective increased by Piper Sandler from $35.00 to $38.00 in a report released on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the utilities provider’s stock.

Several other analysts also recently weighed in on the company. UBS Group increased their target price on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. StockNews.com raised Ameresco to a “sell” rating in a research report on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 target price on the stock. Robert W. Baird increased their price target on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Ameresco Trading Up 2.4 %

Shares of AMRC stock opened at $31.52 on Tuesday. Ameresco has a 12 month low of $17.55 and a 12 month high of $39.68. The company has a market cap of $1.65 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $32.82 and its two-hundred day moving average is $30.04.

Ameresco (NYSE:AMRC) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The firm 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 business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. Equities analysts predict that Ameresco will post 1.16 EPS for the current year.

Insider Transactions at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 5,221 shares of company stock valued at $140,814. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Ameresco by 3,389.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after acquiring an additional 179,635 shares during the last quarter. PFG Investments LLC bought a new position in Ameresco in the 3rd quarter valued at $207,000. Blue Trust Inc. boosted its stake in Ameresco by 100.3% in the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 391 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Ameresco by 19.8% during the third quarter. GAMMA Investing LLC now owns 3,735 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 618 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Ameresco by 358.8% in the third quarter. SG Americas Securities LLC now owns 24,906 shares of the utilities provider’s stock valued at $945,000 after buying an additional 19,478 shares in the last quarter. 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.