Ameresco (NYSE:AMRC) Given New $38.00 Price Target at Piper Sandler

Ameresco (NYSE:AMRC) had its target price raised by Piper Sandler from $35.00 to $38.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird increased their target price on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock. UBS Group boosted their price objective on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. B. Riley raised shares of Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.33.

Ameresco Stock Up 2.4 %

Shares of NYSE AMRC opened at $31.52 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.65 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The firm’s 50-day moving average is $32.82 and its 200-day moving average is $30.04. Ameresco has a 1 year low of $17.55 and a 1 year high of $39.68.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The business had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. Ameresco’s revenue was up 33.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts expect that Ameresco will post 1.16 EPS for the current year.

Insider Buying and Selling at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at $49,823.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 5,221 shares of company stock worth $140,814. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of large investors have recently modified their holdings of the business. Natixis acquired a new stake in shares of Ameresco in the first quarter valued at about $480,000. Harbor Capital Advisors Inc. raised its stake in shares of Ameresco by 187.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after purchasing an additional 44,882 shares in the last quarter. Swedbank AB acquired a new stake in shares of Ameresco in the 1st quarter valued at approximately $12,065,000. Connors Investor Services Inc. grew its stake in shares of Ameresco by 35.4% in the first quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock valued at $3,449,000 after buying an additional 37,368 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Ameresco during the first quarter worth $1,009,000. 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.