Ameresco (NYSE:AMRC) Price Target Raised to $47.00

Ameresco (NYSE:AMRC) had its target price raised by B. Riley Financial from $45.00 to $47.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other brokerages also recently weighed in on AMRC. Canaccord Genuity Group upped their target price on shares of Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald assumed coverage on shares of Ameresco in a report on Friday, January 23rd. They issued an “overweight” rating and a $41.00 price objective on the stock. Jefferies Financial Group set a $45.00 price objective on shares of Ameresco and gave the company a “buy” rating in a research report on Tuesday, November 4th. William Blair raised Ameresco to a “hold” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut Ameresco from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.10.

Ameresco Price Performance

AMRC stock opened at $25.68 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.50 and a current ratio of 1.51. Ameresco has a 1 year low of $8.49 and a 1 year high of $44.93. The firm has a market cap of $1.36 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.02 and a beta of 2.53. The stock has a 50-day simple moving average of $31.20 and a 200-day simple moving average of $32.23.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Ameresco had a return on equity of 4.49% and a net margin of 2.29%.The firm had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. During the same period in the previous year, the company posted $0.88 EPS. Ameresco’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that Ameresco will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total transaction of $536,155.00. Following the completion of the transaction, the director directly owned 14,111 shares of the company’s stock, valued at $481,890.65. This trade represents a 52.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 16,645 shares of company stock worth $568,297. 44.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameresco

Several large investors have recently modified their holdings of AMRC. State of Wyoming acquired a new position in Ameresco in the fourth quarter worth about $27,000. CoreCap Advisors LLC bought a new position in Ameresco during the 3rd quarter worth approximately $50,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Ameresco in the 4th quarter worth approximately $48,000. Summit Securities Group LLC bought a new stake in shares of Ameresco in the 4th quarter valued at approximately $55,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ameresco during the 3rd quarter valued at approximately $76,000. Institutional investors own 99.24% of the company’s stock.

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.