Ameresco (NYSE:AMRC) Shares Gap Up on Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC) shares gapped up prior to trading on Tuesday after Robert W. Baird upgraded the stock from a neutral rating to an outperform rating. The stock had previously closed at $25.43, but opened at $26.43. Robert W. Baird now has a $35.00 price target on the stock, up from their previous price target of $23.00. Ameresco shares last traded at $26.00, with a volume of 92,362 shares changing hands.

A number of other equities research analysts also recently issued reports on AMRC. UBS Group upgraded shares of Ameresco from a “sell” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $23.00 in a research report on Monday, August 18th. Piper Sandler set a $21.00 price target on shares of Ameresco and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of Ameresco from a “sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reduced their price target on shares of Ameresco from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price target on shares of Ameresco from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its position in shares of Ameresco by 106.4% during the 2nd quarter. Squarepoint Ops LLC now owns 187,363 shares of the utilities provider’s stock worth $2,846,000 after purchasing an additional 96,606 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Ameresco during the 2nd quarter worth $2,300,000. JCP Investment Management LLC lifted its stake in shares of Ameresco by 16.4% during the 2nd quarter. JCP Investment Management LLC now owns 16,297 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 2,297 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 1,754 shares during the period. Finally, Redwood Grove Capital LLC lifted its stake in shares of Ameresco by 36.0% during the 2nd quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock worth $10,327,000 after purchasing an additional 179,943 shares during the period. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Trading Up 0.4%

The company has a market cap of $1.34 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.27 and a beta of 2.26. The business has a 50 day simple moving average of $19.54 and a two-hundred day simple moving average of $15.34. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 1.55.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The company had revenue of $472.28 million for the quarter, compared to analyst estimates of $415.30 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

About Ameresco

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.