Ameresco (NYSE:AMRC) Price Target Cut to $37.00

Ameresco (NYSE:AMRC) had its price objective cut by Truist Financial from $40.00 to $37.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on the stock. Raymond James dropped their target price on shares of Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, April 3rd. Guggenheim reaffirmed a neutral rating on shares of Ameresco in a research report on Thursday, February 29th. Oppenheimer reissued a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. B. Riley lowered their price target on shares of Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a report on Monday, February 5th. Finally, Piper Sandler lowered their price target on shares of Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameresco presently has an average rating of Moderate Buy and a consensus target price of $44.69.

Ameresco Price Performance

Shares of Ameresco stock opened at $21.29 on Monday. The firm has a fifty day simple moving average of $21.22 and a 200-day simple moving average of $25.54. 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 has a 1-year low of $17.55 and a 1-year high of $63.19. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 0.55 and a beta of 1.56.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping 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 business had revenue of $441.40 million during the quarter, compared to analysts’ expectations of $399.98 million. During the same period in the previous year, the company earned $0.35 earnings per share. Ameresco’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, sell-side analysts expect that Ameresco will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Ameresco

Several large investors have recently made changes to their positions in AMRC. Quest Partners LLC bought a new stake in shares of Ameresco in the 4th quarter worth about $62,000. Cetera Trust Company N.A acquired a new position in Ameresco during the 4th quarter worth about $106,000. Dynamic Advisor Solutions LLC acquired a new position in Ameresco during the 3rd quarter worth about $268,000. Quantbot Technologies LP acquired a new position in Ameresco during the 3rd quarter worth about $295,000. Finally, Victory Capital Management Inc. lifted its position in Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after buying an additional 752 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

About Ameresco

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.