Ameresco (NYSE:AMRC) PT Lowered to $54.00

Ameresco (NYSE:AMRC – Get Rating) had its target price dropped by equities researchers at Robert W. Baird from $70.00 to $54.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 15.66% from the stock’s previous close.

Several other equities research analysts have also recently commented on AMRC. Canaccord Genuity Group boosted their price target on shares of Ameresco from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday, January 10th. Canaccord Genuity Group upped their target price on Ameresco from $79.00 to $81.00 in a research report on Wednesday, November 2nd. Finally, B. Riley reduced their price objective on shares of Ameresco from $73.00 to $72.00 in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.29.

Ameresco Stock Up 6.2 %

Shares of Ameresco stock opened at $46.69 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.27 and a quick ratio of 1.26. Ameresco has a 1-year low of $40.73 and a 1-year high of $86.73. The business has a 50-day moving average of $57.26 and a 200-day moving average of $61.74. The company has a market capitalization of $2.42 billion, a PE ratio of 26.23, a P/E/G ratio of 1.08 and a beta of 1.10.

Ameresco (NYSE:AMRC – Get Rating) last announced its quarterly earnings data on Monday, February 27th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). The firm had revenue of $331.73 million for the quarter, compared to the consensus estimate of $365.63 million. Ameresco had a return on equity of 12.82% and a net margin of 5.20%. The business’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. As a group, equities analysts forecast that Ameresco will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRC. JPMorgan Chase & Co. lifted its holdings in shares of Ameresco by 24.8% during the first quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after purchasing an additional 17,857 shares during the period. MetLife Investment Management LLC raised its position in Ameresco by 58.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock worth $1,271,000 after purchasing an additional 5,927 shares during the last quarter. Rhumbline Advisers lifted its holdings in Ameresco by 6.8% during the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock worth $2,562,000 after buying an additional 2,055 shares during the period. BlackRock Inc. lifted its holdings in Ameresco by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock worth $187,241,000 after buying an additional 72,667 shares during the period. Finally, Cibc World Market Inc. grew its position in shares of Ameresco by 5.1% in the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock valued at $658,000 after buying an additional 399 shares during the last quarter. 57.50% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.