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

Shares of Ameresco, Inc. (NYSE:AMRC) gapped up prior to trading on Thursday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $31.61, but opened at $32.61. Jefferies Financial Group now has a $39.00 price target on the stock, up from their previous price target of $19.00. Ameresco shares last traded at $34.29, with a volume of 227,380 shares trading hands.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird raised shares of Ameresco from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $23.00 to $35.00 in a research note on Tuesday, September 2nd. Baird R W raised shares of Ameresco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of Ameresco from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. UBS Group raised shares of Ameresco from a “sell” rating to a “neutral” rating and upped their target price for the stock from $11.00 to $23.00 in a research note on Monday, August 18th. Finally, B. Riley upped their target price on shares of Ameresco from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $28.00.

Institutional Investors Weigh In On Ameresco

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRC. Bank of America Corp DE lifted its position in Ameresco by 6.0% during the 4th quarter. Bank of America Corp DE now owns 196,592 shares of the utilities provider’s stock worth $4,616,000 after buying an additional 11,163 shares in the last quarter. ProShare Advisors LLC lifted its position in Ameresco by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 9,074 shares of the utilities provider’s stock worth $213,000 after buying an additional 2,986 shares in the last quarter. Squarepoint Ops LLC lifted its position in Ameresco by 27.2% during the 4th quarter. Squarepoint Ops LLC now owns 71,891 shares of the utilities provider’s stock worth $1,688,000 after buying an additional 15,388 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ameresco by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,684 shares of the utilities provider’s stock worth $2,106,000 after buying an additional 13,127 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Ameresco by 132.0% during the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider’s stock worth $97,000 after buying an additional 4,557 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

Ameresco Stock Up 10.5%

The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.54 and a current ratio of 1.56. The firm’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $16.93. The stock has a market capitalization of $1.84 billion, a P/E ratio of 29.86, a PEG ratio of 1.58 and a beta of 2.26.

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

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.