Ameresco (NYSE:AMRC) Stock Price Up 4.9%

Ameresco, Inc. (NYSE:AMRC) traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as $21.61 and last traded at $21.61. 37,243 shares were traded during trading, a decline of 93% from the average session volume of 530,429 shares. The stock had previously closed at $20.61.

Analyst Ratings Changes

AMRC has been the subject of several recent research reports. Piper Sandler dropped their price target on Ameresco from $42.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Canaccord Genuity Group dropped their target price on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Guggenheim reiterated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Tuesday, March 12th. Finally, B. Riley cut their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Ameresco presently has an average rating of “Moderate Buy” and an average target price of $45.92.

Ameresco Stock Performance

The firm has a 50 day moving average of $21.38 and a 200-day moving average of $28.07. The company has a market cap of $1.26 billion, a P/E ratio of 20.45, a PEG ratio of 0.66 and a beta of 1.54. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, sell-side analysts anticipate that Ameresco, Inc. will post 1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMRC. Vanguard Group Inc. lifted its holdings in Ameresco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock worth $98,479,000 after buying an additional 41,199 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ameresco by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,056 shares of the utilities provider’s stock worth $636,000 after acquiring an additional 2,008 shares in the last quarter. Legal & General Group Plc raised its position in shares of Ameresco by 16.4% in the 4th quarter. Legal & General Group Plc now owns 164,812 shares of the utilities provider’s stock worth $5,220,000 after acquiring an additional 23,201 shares in the last quarter. Barclays PLC lifted its stake in shares of Ameresco by 83.6% during the 4th quarter. Barclays PLC now owns 75,387 shares of the utilities provider’s stock worth $2,388,000 after purchasing an additional 34,319 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Ameresco during the fourth quarter valued at about $1,500,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.