Ameresco (NYSE:AMRC) Given a $58.00 Price Target at Guggenheim

Ameresco (NYSE:AMRCGet Rating) received a $58.00 price target from investment analysts at Guggenheim in a research note issued to investors on Monday, Stock Target Advisor reports. Guggenheim’s price objective points to a potential upside of 28.55% from the company’s current price.

A number of other analysts have also recently issued reports on AMRC. Bank of America cut Ameresco from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $81.00 in a report on Thursday, March 24th. Raymond James raised their price target on Ameresco from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, April 5th. Roth Capital lowered their price target on Ameresco from $52.00 to $44.00 in a report on Tuesday, May 3rd. Piper Sandler raised their price target on Ameresco from $64.00 to $65.00 in a report on Thursday, April 21st. Finally, Robert W. Baird lowered their price target on Ameresco from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Ameresco presently has a consensus rating of “Hold” and an average price target of $76.23.

AMRC traded up $0.48 during trading on Monday, reaching $45.12. 20,937 shares of the company were exchanged, compared to its average volume of 457,341. The company’s 50-day moving average is $54.73 and its two-hundred day moving average is $63.17. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 0.95 and a beta of 1.02. The company has a quick ratio of 2.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.90. Ameresco has a 12-month low of $42.53 and a 12-month high of $101.86.

Ameresco (NYSE:AMRCGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The business had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $418.42 million. Ameresco had a return on equity of 12.44% and a net margin of 5.33%. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities analysts forecast that Ameresco will post 1.89 earnings per share for the current year.

In related news, EVP Louis P. Maltezos sold 2,985 shares of the firm’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $83.00, for a total transaction of $247,755.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.88% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new stake in shares of Ameresco in the 3rd quarter worth approximately $223,000. Voya Investment Management LLC grew its position in shares of Ameresco by 2.1% in the 3rd quarter. Voya Investment Management LLC now owns 12,157 shares of the utilities provider’s stock worth $710,000 after buying an additional 251 shares during the last quarter. Morgan Stanley grew its position in shares of Ameresco by 2.7% in the 3rd quarter. Morgan Stanley now owns 362,229 shares of the utilities provider’s stock worth $21,165,000 after buying an additional 9,451 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Ameresco by 135.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 11,057 shares of the utilities provider’s stock worth $646,000 after buying an additional 6,352 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Ameresco in the 3rd quarter worth approximately $110,000. Institutional investors and hedge funds 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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