Ameresco (NYSE:AMRC) Price Target Lowered to $37.00 at Truist Financial

Ameresco (NYSE:AMRC) had its price target cut by Truist Financial from $40.00 to $37.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

AMRC has been the subject of a number of other reports. Raymond James cut their price target on Ameresco from $40.00 to $35.00 and set an outperform rating for the company in a report on Wednesday, April 3rd. Oppenheimer reissued a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. StockNews.com raised Ameresco to a sell rating in a report on Tuesday, April 16th. Canaccord Genuity Group cut their price target on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler dropped their target price on Ameresco from $32.00 to $30.00 and set an overweight rating for the company in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $44.69.

Ameresco Stock Up 1.5 %

AMRC opened at $19.09 on Monday. The business’s fifty day moving average is $21.24 and its two-hundred day moving average is $25.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market cap of $998.08 million, a price-to-earnings ratio of 16.18, a PEG ratio of 0.54 and a beta of 1.56. Ameresco has a one year low of $17.55 and a one year high of $63.19.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $399.98 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. Analysts anticipate that Ameresco will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Ameresco

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Ameresco by 32.6% in the third quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock worth $10,975,000 after buying an additional 69,997 shares during the period. Boston Partners purchased a new stake in shares of Ameresco in the third quarter worth about $2,143,000. Deutsche Bank AG boosted its position in shares of Ameresco by 16.6% in the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock worth $658,000 after buying an additional 2,426 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in shares of Ameresco by 20.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock worth $11,275,000 after buying an additional 48,737 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.