Ameresco (NYSE:AMRC) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of Ameresco (NYSE:AMRC) from a hold rating to a buy rating in a report released on Thursday, MarketBeat reports. The brokerage currently has $39.00 price target on the utilities provider’s stock, up from their prior price target of $19.00.

Several other research analysts have also weighed in on AMRC. Robert W. Baird raised shares of Ameresco from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $23.00 to $35.00 in a report on Tuesday, September 2nd. Baird R W upgraded Ameresco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. UBS Group upgraded Ameresco from a “sell” rating to a “neutral” rating and upped their price objective for the company from $11.00 to $23.00 in a research note on Monday, August 18th. Wall Street Zen upgraded Ameresco from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, B. Riley upped their price target on Ameresco from $22.00 to $32.00 and gave the company a “buy” rating in a research report 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $28.00.

Ameresco Trading Up 10.5%

NYSE:AMRC opened at $34.94 on Thursday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.58 and a beta of 2.26. Ameresco has a one year low of $8.49 and a one year high of $39.68. 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 business’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $16.93.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $472.28 million during the quarter, compared to analyst estimates of $415.30 million. During the same quarter last year, the firm earned $0.10 EPS. Ameresco’s quarterly revenue was up 7.8% on a year-over-year basis. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. As a group, sell-side analysts predict that Ameresco will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP grew its holdings in Ameresco by 1,832.5% in the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock worth $26,965,000 after buying an additional 1,683,326 shares in the last quarter. DNB Asset Management AS boosted its position in Ameresco by 3.8% during the 2nd quarter. DNB Asset Management AS now owns 1,189,714 shares of the utilities provider’s stock worth $18,072,000 after acquiring an additional 43,411 shares during the period. Wellington Management Group LLP grew its stake 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 worth $13,289,000 after purchasing an additional 125,030 shares in the last quarter. Gagnon Securities LLC increased its holdings in shares of Ameresco by 69.6% during 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. Finally, First Eagle Investment Management LLC raised its stake in shares of Ameresco by 33.1% during the second quarter. First Eagle Investment Management LLC now owns 753,807 shares of the utilities provider’s stock valued at $11,450,000 after purchasing an additional 187,380 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.