Ameresco (NYSE:AMRC) Shares Up 6.4% on Strong Earnings

Ameresco, Inc. (NYSE:AMRCGet Rating)’s share price shot up 6.4% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $63.55 and last traded at $61.50. 3,042 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 320,228 shares. The stock had previously closed at $57.81.

The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Ameresco had a net margin of 5.33% and a return on equity of 12.44%. During the same quarter last year, the company earned $0.34 earnings per share.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMRC shares. Canaccord Genuity Group decreased their target price on shares of Ameresco from $85.00 to $62.00 in a research note on Tuesday, May 3rd. Oppenheimer reduced their price target on shares of Ameresco from $90.00 to $76.00 in a research report on Tuesday, May 3rd. Piper Sandler reduced their price target on shares of Ameresco from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. Roth Capital reduced their price target on shares of Ameresco from $52.00 to $44.00 in a research report on Tuesday, May 3rd. Finally, B. Riley reduced their price target on shares of Ameresco from $92.00 to $70.00 and set a “maintains” rating for the company in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ameresco has a consensus rating of “Hold” and a consensus target price of $69.85.

Institutional Investors Weigh In On Ameresco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new position in shares of Ameresco during the 4th quarter worth $241,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Ameresco during the 4th quarter worth $598,000. Commonwealth Equity Services LLC purchased a new position in shares of Ameresco during the 4th quarter worth $345,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Ameresco during the 4th quarter worth $2,433,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ameresco by 36.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,883 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 51.21% of the company’s stock.

Ameresco Stock Up 10.7 %

The company has a current ratio of 2.14, a quick ratio of 2.11 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average price is $49.91 and its two-hundred day moving average price is $56.76. The firm has a market cap of $3.32 billion, a PE ratio of 44.44, a PEG ratio of 1.22 and a beta of 1.22.

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.

Featured Articles

Receive News & Ratings for Ameresco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameresco and related companies with MarketBeat.com's FREE daily email newsletter.