Ameresco (NYSE:AMRC) Stock Price Expected to Rise, B. Riley Financial Analyst Says

Ameresco (NYSE:AMRC) had its target price lifted by equities researchers at B. Riley Financial from $45.00 to $47.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. B. Riley Financial’s target price would suggest a potential upside of 62.69% from the stock’s previous close.

AMRC has been the topic of a number of other research reports. UBS Group boosted their price objective on shares of Ameresco from $23.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Canaccord Genuity Group boosted their price target on Ameresco from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald began coverage on Ameresco in a report on Friday, January 23rd. They issued an “overweight” rating and a $41.00 price target on the stock. William Blair raised Ameresco to a “hold” rating in a report on Tuesday, January 27th. Finally, Stifel Nicolaus boosted their target price on Ameresco from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.10.

Ameresco Price Performance

Shares of Ameresco stock traded up $0.99 during trading on Wednesday, reaching $28.89. The company’s stock had a trading volume of 145,818 shares, compared to its average volume of 497,407. The business has a 50 day moving average price of $31.40 and a 200-day moving average price of $32.28. Ameresco has a 12-month low of $8.49 and a 12-month high of $44.93. The company has a market capitalization of $1.53 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 1.07 and a beta of 2.53. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.57.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Ameresco had a return on equity of 4.55% and a net margin of 2.29%.The company had revenue of $581.03 million during the quarter, compared to the consensus estimate of $556.09 million. During the same quarter last year, the company earned $0.88 earnings per share. Ameresco’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ameresco will post 1.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the transaction, the director directly owned 14,111 shares of the company’s stock, valued at $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 16,645 shares of company stock worth $568,297 over the last ninety days. Company insiders own 44.96% of the company’s stock.

Institutional Investors Weigh In On Ameresco

Hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new position in Ameresco in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ameresco during the 4th quarter worth about $48,000. CoreCap Advisors LLC purchased a new position in shares of Ameresco during the 3rd quarter worth about $50,000. Tower Research Capital LLC TRC boosted its position in shares of Ameresco by 99.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Ameresco in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

About Ameresco

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas?to?energy, energy storage and microgrid installations.