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

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

A number of other research firms have also recently commented on AMRC. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price objective on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. B. Riley upgraded Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. UBS Group lifted their price objective on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Jefferies Financial Group initiated coverage on Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.73.

Ameresco Trading Down 3.3 %

NYSE:AMRC opened at $30.52 on Tuesday. The company has a market capitalization of $1.60 billion, a PE ratio of 27.75, 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. Ameresco has a 52-week low of $17.55 and a 52-week high of $39.68. The stock has a fifty day simple moving average of $32.87 and a 200-day simple moving average of $30.10.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The company’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, equities research analysts expect that Ameresco will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now owns 1,878 shares in the company, valued at approximately $49,823.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRC. LGT Group Foundation acquired a new position in Ameresco during the second quarter valued at approximately $20,325,000. Swedbank AB acquired a new position in Ameresco during the first quarter valued at approximately $12,065,000. Point72 Asset Management L.P. acquired a new position in Ameresco during the second quarter valued at approximately $10,821,000. Redwood Grove Capital LLC acquired a new position in Ameresco during the first quarter valued at approximately $7,170,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Ameresco by 3,389.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after buying an additional 179,635 shares in the last quarter. 99.24% of the stock is 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.