JCP Investment Management LLC Acquires 5,000 Shares of Ameresco, Inc. (NYSE:AMRC)

JCP Investment Management LLC raised its holdings in Ameresco, Inc. (NYSE:AMRC) by 55.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the utilities provider’s stock after acquiring an additional 5,000 shares during the period. Ameresco makes up 0.1% of JCP Investment Management LLC’s investment portfolio, making the stock its 17th largest position. JCP Investment Management LLC’s holdings in Ameresco were worth $169,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in Ameresco in the 1st quarter worth approximately $1,043,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ameresco by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,964 shares of the utilities provider’s stock worth $205,000 after acquiring an additional 5,949 shares during the last quarter. Rock Point Advisors LLC lifted its holdings in shares of Ameresco by 97.7% in the 1st quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider’s stock worth $6,245,000 after acquiring an additional 255,538 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ameresco by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock valued at $74,767,000 after purchasing an additional 37,359 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Ameresco by 29.8% during the 4th quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider’s stock valued at $7,560,000 after purchasing an additional 73,928 shares during the last quarter. Institutional investors own 99.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMRC. Jefferies Financial Group boosted their price target on shares of Ameresco from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Piper Sandler set a $21.00 target price on Ameresco and gave the company an “overweight” rating in a report on Tuesday, May 6th. Baird R W lowered Ameresco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, UBS Group reiterated a “sell” rating and issued a $11.00 price objective on shares of Ameresco in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ameresco presently has an average rating of “Hold” and an average price target of $18.33.

Ameresco Trading Down 6.4%

NYSE AMRC opened at $15.84 on Friday. The stock has a market cap of $832.23 million, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.75 and a beta of 2.27. Ameresco, Inc. has a fifty-two week low of $8.49 and a fifty-two week high of $39.68. The stock has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $15.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.56 and a current ratio of 1.57.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The company had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Ameresco 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.