Ameresco (NYSE:AMRC) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Ameresco (NYSE:AMRC) to a sell rating in a research note published on Tuesday.

AMRC has been the subject of several other reports. Raymond James cut their target price on shares of Ameresco from $40.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday, April 3rd. Piper Sandler cut their price objective on shares of Ameresco from $32.00 to $30.00 and set an overweight rating for the company in a research report on Thursday, April 11th. BNP Paribas raised Ameresco from a neutral rating to an outperform rating and set a $34.00 target price on the stock in a research report on Tuesday, March 12th. B. Riley lowered their price target on Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research note on Monday, February 5th. Finally, Canaccord Genuity Group reduced their price objective on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $45.33.

Ameresco Stock Down 3.3 %

Ameresco stock opened at $19.43 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19. The firm has a fifty day moving average price of $21.58 and a two-hundred day moving average price of $26.07. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 0.60 and a beta of 1.56.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 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 analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, analysts forecast that Ameresco will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Ameresco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMRC. ARGA Investment Management LP acquired a new stake in shares of Ameresco during the first quarter worth approximately $717,000. Bridge City Capital LLC increased its holdings in Ameresco by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock valued at $1,927,000 after purchasing an additional 622 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ameresco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock valued at $98,479,000 after purchasing an additional 41,199 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 valued at $636,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Ameresco by 16.4% in the fourth quarter. Legal & General Group Plc now owns 164,812 shares of the utilities provider’s stock worth $5,220,000 after purchasing an additional 23,201 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.