Brokerages Set Ameresco, Inc. (NYSE:AMRC) Target Price at $64.07

Shares of Ameresco, Inc. (NYSE:AMRC – Get Rating) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $64.07.

A number of analysts have commented on the stock. B. Riley reduced their price objective on shares of Ameresco from $72.00 to $63.00 in a research note on Tuesday, April 25th. Raymond James reduced their price objective on shares of Ameresco from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, April 5th. VNET Group reaffirmed a “maintains” rating on shares of Ameresco in a research note on Thursday, May 18th. Roth Capital raised Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Wednesday, March 1st. Finally, Piper Sandler raised Ameresco from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $57.00 to $64.00 in a research note on Friday, March 10th.

Insider Activity at Ameresco

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $213,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 41.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMRC. Grantham Mayo Van Otterloo & Co. LLC grew its position in Ameresco by 34.0% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,828,840 shares of the utilities provider’s stock worth $188,456,000 after acquiring an additional 972,065 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ameresco by 6.4% during the third quarter. Vanguard Group Inc. now owns 2,992,738 shares of the utilities provider’s stock worth $198,956,000 after acquiring an additional 179,495 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ameresco by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock worth $167,305,000 after acquiring an additional 92,278 shares during the last quarter. Handelsbanken Fonder AB raised its position in Ameresco by 8.1% in the 1st quarter. Handelsbanken Fonder AB now owns 2,485,042 shares of the utilities provider’s stock worth $122,314,000 after purchasing an additional 186,500 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Ameresco by 1.9% during the first quarter. Macquarie Group Ltd. now owns 1,215,729 shares of the utilities provider’s stock valued at $59,838,000 after buying an additional 23,123 shares during the last quarter. 57.50% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Down 3.3 %

Ameresco stock opened at $42.87 on Friday. The company has a 50-day simple moving average of $44.15 and a 200-day simple moving average of $52.82. The firm has a market capitalization of $2.23 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.23 and a current ratio of 1.25. Ameresco has a one year low of $39.62 and a one year high of $76.54.

Ameresco (NYSE:AMRC – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Ameresco had a net margin of 4.85% and a return on equity of 9.74%. The business had revenue of $271.04 million during the quarter, compared to analyst estimates of $231.61 million. During the same period in the previous year, the company posted $0.36 earnings per share. Ameresco’s revenue was down 42.8% compared to the same quarter last year. As a group, equities analysts expect that Ameresco will post 1.8 earnings per share for the current year.

About Ameresco

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.