Ameresco (NYSE:AMRC) Trading Up 6.9%

Shares of Ameresco, Inc. (NYSE:AMRC) traded up 6.9% during mid-day trading on Tuesday . The company traded as high as $20.46 and last traded at $20.41. 38,009 shares changed hands during trading, a decline of 93% from the average session volume of 534,810 shares. The stock had previously closed at $19.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. B. Riley reduced their price target on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Canaccord Genuity Group reduced their price target on Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Piper Sandler reduced their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a research report on Wednesday, April 17th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Ameresco Price Performance

The firm has a 50-day simple moving average of $21.22 and a two-hundred day simple moving average of $25.54. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.55 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) last announced its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, analysts predict that Ameresco, Inc. will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake 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 buying an additional 176,971 shares in the last quarter. Trustees of Princeton University purchased a new position in Ameresco in the 4th quarter valued at about $7,170,000. First Eagle Investment Management LLC lifted its stake in Ameresco by 32.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock valued at $10,975,000 after buying an additional 69,997 shares in the last quarter. Boston Partners purchased a new position in Ameresco in the 3rd quarter valued at about $2,143,000. Finally, Deutsche Bank AG lifted its stake in Ameresco by 16.6% in the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after buying an additional 2,426 shares in the last quarter. 99.24% of the stock is owned by hedge funds and other 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.