Ameresco (NYSE:AMRC) Price Target Cut to $30.00

Ameresco (NYSE:AMRC) had its price target trimmed by Piper Sandler from $32.00 to $30.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the stock. Guggenheim reiterated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. Canaccord Genuity Group cut their price target on shares of Ameresco from $50.00 to $36.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Raymond James lowered their price objective on shares of Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, April 3rd. B. Riley lowered their price objective on shares of Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research report on Monday, February 5th. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $45.33.

Ameresco Stock Down 4.1 %

Shares of NYSE AMRC opened at $23.12 on Thursday. Ameresco has a 12-month low of $17.55 and a 12-month high of $63.19. The stock has a market cap of $1.21 billion, a PE ratio of 19.59, a P/E/G ratio of 0.66 and a beta of 1.56. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $21.61 and a 200 day moving average of $26.70.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMRC. International Assets Investment Management LLC acquired a new position in shares of Ameresco during the third quarter worth about $28,000. Tower Research Capital LLC TRC grew its position in Ameresco by 302.4% during the first quarter. Tower Research Capital LLC TRC now owns 849 shares of the utilities provider’s stock worth $42,000 after buying an additional 638 shares during the period. Lazard Asset Management LLC acquired a new position in Ameresco during the first quarter worth about $50,000. Quest Partners LLC acquired a new position in Ameresco during the fourth quarter worth about $62,000. Finally, Cetera Trust Company N.A acquired a new position in Ameresco during the fourth quarter worth about $106,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.