Ameresco (NYSE:AMRC) Price Target Cut to $44.00

Ameresco (NYSE:AMRCGet Rating) had its price target reduced by analysts at Roth Capital from $52.00 to $44.00 in a report issued on Tuesday, The Fly reports. Roth Capital’s price objective would indicate a potential downside of 15.14% from the company’s current price.

AMRC has been the topic of a number of other reports. Piper Sandler boosted their price target on shares of Ameresco from $64.00 to $65.00 in a research note on Thursday, April 21st. Canaccord Genuity Group cut their target price on shares of Ameresco from $85.00 to $62.00 in a research note on Tuesday. TheStreet downgraded shares of Ameresco from a “b-” rating to a “c+” rating in a research note on Tuesday, March 1st. Zacks Investment Research downgraded shares of Ameresco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. Finally, Oppenheimer dropped their price objective on shares of Ameresco from $90.00 to $76.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.00.

Ameresco stock opened at $51.85 on Tuesday. The company has a 50 day moving average of $67.37. The stock has a market cap of $2.68 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. Ameresco has a 1 year low of $42.53 and a 1 year high of $101.86. The company has a quick ratio of 1.33, a current ratio of 1.35 and a debt-to-equity ratio of 0.54.

Ameresco (NYSE:AMRCGet Rating) last released its quarterly earnings results on Monday, May 2nd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ameresco had a net margin of 5.80% and a return on equity of 11.94%. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities research analysts forecast that Ameresco will post 1.88 earnings per share for the current year.

In related news, Director Douglas I. Foy sold 5,000 shares of the stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $77.65, for a total transaction of $388,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark Chiplock sold 3,000 shares of the stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $73.00, for a total transaction of $219,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,984 shares of company stock valued at $2,298,166. Company insiders own 41.88% of the company’s stock.

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Ameresco during the 3rd quarter worth $1,355,000. New York State Common Retirement Fund raised its position in Ameresco by 0.7% during the 3rd quarter. New York State Common Retirement Fund now owns 45,704 shares of the utilities provider’s stock worth $2,670,000 after buying an additional 318 shares during the last quarter. Deutsche Bank AG raised its position in Ameresco by 0.3% during the 3rd quarter. Deutsche Bank AG now owns 58,066 shares of the utilities provider’s stock worth $3,394,000 after buying an additional 193 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Ameresco by 15.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 8,540 shares of the utilities provider’s stock worth $499,000 after buying an additional 1,166 shares during the last quarter. Finally, Truist Financial Corp raised its position in Ameresco by 24.5% during the 3rd quarter. Truist Financial Corp now owns 12,355 shares of the utilities provider’s stock worth $721,000 after buying an additional 2,432 shares during the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

Ameresco Company Profile (Get Rating)

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

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