Ameresco, Inc. (NYSE:AMRC) Receives $20.67 Consensus Price Target from Brokerages

Shares of Ameresco, Inc. (NYSE:AMRC) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.67.

Several equities research analysts have recently commented on the company. UBS Group reissued a “sell” rating and issued a $11.00 price objective on shares of Ameresco in a report on Tuesday, June 3rd. Wall Street Zen raised Ameresco from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Piper Sandler set a $21.00 price objective on Ameresco and gave the company an “overweight” rating in a report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on Ameresco from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $13.00 price objective (down previously from $25.00) on shares of Ameresco in a report on Tuesday, April 15th.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Ameresco by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock worth $74,767,000 after acquiring an additional 37,359 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ameresco by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock worth $27,230,000 after purchasing an additional 214,918 shares during the period. Wellington Management Group LLP increased its position 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 during the period. Gagnon Securities LLC increased its position in shares of Ameresco by 69.6% in the first quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider’s stock worth $11,700,000 after purchasing an additional 397,326 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Ameresco by 124.4% in the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after purchasing an additional 464,737 shares during the period. 99.24% of the stock is owned by institutional investors.

Ameresco Price Performance

NYSE AMRC opened at $15.81 on Monday. The business has a 50 day simple moving average of $12.47 and a 200 day simple moving average of $17.49. Ameresco has a 52-week low of $8.49 and a 52-week high of $39.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The stock has a market cap of $830.78 million, a price-to-earnings ratio of 15.81, a PEG ratio of 0.49 and a beta of 2.24.

Ameresco (NYSE:AMRC) last posted its earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business had revenue of $352.83 million during the quarter, compared to analysts’ expectations of $323.71 million. During the same period in the prior year, the business earned ($0.10) EPS. Ameresco’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts anticipate that Ameresco will post 1.15 earnings per share for the current fiscal year.

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.