Ameresco (NYSE:AMRC) Upgraded by Robert W. Baird to Outperform Rating

Robert W. Baird upgraded shares of Ameresco (NYSE:AMRC) from a neutral rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat.com reports. The firm currently has $35.00 price objective on the utilities provider’s stock, up from their prior price objective of $23.00.

A number of other equities research analysts have also recently weighed in on AMRC. Jefferies Financial Group upped their price objective on Ameresco from $11.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Piper Sandler set a $21.00 price objective on Ameresco and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Canaccord Genuity Group upped their price objective on Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded Ameresco from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group upgraded Ameresco from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $23.00 in a research note on Monday, August 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Ameresco Price Performance

Shares of AMRC stock opened at $25.53 on Tuesday. Ameresco has a twelve month low of $8.49 and a twelve month high of $39.68. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.27 and a beta of 2.26. The stock has a fifty 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 earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The business had revenue of $472.28 million during the quarter, compared to analysts’ expectations of $415.30 million. During the same period in the prior year, the business earned $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 predict that Ameresco will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its position in Ameresco by 1,832.5% during the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock valued at $26,965,000 after buying an additional 1,683,326 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Ameresco by 3.8% in the second quarter. DNB Asset Management AS now owns 1,189,714 shares of the utilities provider’s stock valued at $18,072,000 after purchasing an additional 43,411 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ameresco by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock valued at $27,230,000 after purchasing an additional 214,918 shares during the period. Wellington Management Group LLP increased its holdings in shares of Ameresco by 12.8% in the first quarter. Wellington Management Group LLP now owns 1,100,116 shares of the utilities provider’s stock valued at $13,289,000 after purchasing an additional 125,030 shares during the period. Finally, Gagnon Securities LLC increased its holdings in shares of Ameresco by 69.6% in the first quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider’s stock valued at $11,700,000 after purchasing an additional 397,326 shares during the period. 99.24% of the stock is owned by institutional investors and hedge funds.

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.