Analysts Set Ameresco, Inc. (NYSE:AMRC) Target Price at $37.70

Shares of Ameresco, Inc. (NYSE:AMRC) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $37.70.

A number of brokerages have recently weighed in on AMRC. Robert W. Baird upgraded Ameresco from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $35.00 in a research report on Tuesday, September 2nd. Jefferies Financial Group set a $45.00 price target on Ameresco and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ameresco in a research note on Monday. Baird R W upgraded Ameresco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 2nd. Finally, UBS Group boosted their price target on shares of Ameresco from $23.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd.

Ameresco Trading Down 2.2%

Ameresco stock opened at $29.42 on Friday. Ameresco has a 1 year low of $8.49 and a 1 year high of $44.93. The firm’s 50 day moving average price is $33.80 and its 200-day moving average price is $27.88. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.51 and a quick ratio of 1.50. The stock has a market cap of $1.55 billion, a P/E ratio of 24.72, a PEG ratio of 1.46 and a beta of 2.51.

Ameresco (NYSE:AMRC) last issued its earnings results on Monday, November 3rd. The utilities provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The firm had revenue of $525.99 million during the quarter, compared to analyst estimates of $518.41 million. Ameresco had a net margin of 3.34% and a return on equity of 6.97%. Ameresco’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, equities analysts predict that Ameresco will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Ameresco

Several hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC purchased a new position in Ameresco in the third quarter worth about $50,000. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 99.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,754 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Ameresco in the 3rd quarter worth approximately $76,000. Nkcfo LLC bought a new position in shares of Ameresco during the 3rd quarter valued at approximately $107,000. Finally, AlphaQuest LLC purchased a new stake in Ameresco during the 1st quarter valued at $114,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas?to?energy, energy storage and microgrid installations.