Ameresco, Inc. (NYSE:AMRC – Get Free Report)’s share price was down 2.7% during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $32.00 to $30.00. Piper Sandler currently has an overweight rating on the stock. Ameresco traded as low as $22.34 and last traded at $22.49. Approximately 34,927 shares were traded during trading, a decline of 93% from the average daily volume of 534,873 shares. The stock had previously closed at $23.12.
A number of other research analysts have also recently commented on AMRC. Canaccord Genuity Group lowered their target price on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Bank of America lowered Ameresco from a “buy” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $37.00 in a research report on Friday, December 15th. B. Riley reduced their target price on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Raymond James decreased their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Finally, Guggenheim reissued a “neutral” rating on shares of Ameresco in a research note on Thursday, February 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.
Hedge Funds Weigh In On Ameresco
A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Ameresco by 24.8% in the 1st quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after purchasing an additional 17,857 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Ameresco by 58.9% during the first quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock valued at $1,271,000 after buying an additional 5,927 shares during the last quarter. Rhumbline Advisers increased its holdings in Ameresco by 6.8% in the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock worth $2,562,000 after buying an additional 2,055 shares in the last quarter. BlackRock Inc. raised its position in Ameresco by 3.2% in the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock worth $187,241,000 after buying an additional 72,667 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Ameresco by 5.1% in the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock worth $658,000 after buying an additional 399 shares during the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.
Ameresco Stock Down 2.1 %
The company’s 50 day simple moving average is $21.61 and its 200-day simple moving average is $26.70. The firm has a market cap of $1.18 billion, a P/E ratio of 19.06, a PEG ratio of 0.66 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26.
Ameresco (NYSE:AMRC – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. Research analysts forecast that Ameresco, Inc. will post 1.4 earnings per share for the current fiscal year.
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.