Ameresco (NYSE:AMRC) Price Target Cut to $37.00

Ameresco (NYSE:AMRC) had its price objective reduced by analysts at Truist Financial from $40.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Truist Financial’s price objective indicates a potential upside of 77.29% from the company’s current price.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group lowered their price target on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Oppenheimer restated a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th. Finally, BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Ameresco Stock Up 9.3 %

AMRC stock opened at $20.87 on Monday. The firm has a market cap of $1.09 billion, a PE ratio of 17.69, a P/E/G ratio of 0.54 and a beta of 1.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The firm’s fifty day moving average is $21.24 and its 200 day moving average is $25.63. Ameresco has a one year low of $17.55 and a one year high of $63.19.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. The company had revenue of $441.40 million for 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%. The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. On average, research analysts forecast that Ameresco will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Ameresco

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in Ameresco during the 4th quarter worth approximately $62,000. Cetera Trust Company N.A acquired a new position in Ameresco during the 4th quarter worth approximately $106,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Ameresco in the 3rd quarter valued at $268,000. Quantbot Technologies LP acquired a new position in shares of Ameresco in the 3rd quarter valued at $295,000. Finally, Inspire Investing LLC boosted its holdings in shares of Ameresco by 25.1% in the 3rd quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,607 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

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.