Ameresco (NYSE:AMRC) Shares Up 4.9%

Ameresco, Inc. (NYSE:AMRC) shot up 4.9% on Wednesday . The stock traded as high as $21.61 and last traded at $21.61. 37,243 shares changed hands during trading, a decline of 93% from the average session volume of 530,429 shares. The stock had previously closed at $20.61.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. B. Riley decreased their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Piper Sandler cut their target price on shares of Ameresco from $42.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Tuesday, March 12th. Finally, Canaccord Genuity Group decreased their target price on Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.92.

Ameresco Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 0.66 and a beta of 1.54. The stock has a fifty day moving average price of $21.38 and a 200-day moving average price of $28.07.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $441.40 million during the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, analysts anticipate that Ameresco, Inc. will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Ameresco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock valued at $98,479,000 after purchasing an additional 41,199 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Ameresco by 5.7% in the third quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock valued at $107,181,000 after buying an additional 150,000 shares during the last quarter. BlackRock Inc. lifted its position in Ameresco by 3.8% during the 3rd quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock worth $167,305,000 after buying an additional 92,278 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Ameresco by 1.9% during the 1st quarter. Macquarie Group Ltd. now owns 1,215,729 shares of the utilities provider’s stock worth $59,838,000 after acquiring an additional 23,123 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ameresco by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

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.