Bank of America upgraded shares of Ameresco (NYSE:AMRC – Get Rating) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat.com reports. They currently have $73.00 price objective on the utilities provider's stock, down from their previous price objective of $74.00.
AMRC has been the topic of several other reports. Craig Hallum decreased their price target on shares of Ameresco from $95.00 to $82.00 and set a buy rating on the stock in a report on Tuesday, August 2nd. Stifel Nicolaus decreased their price target on shares of Ameresco from $91.00 to $82.00 and set a buy rating on the stock in a report on Tuesday, August 2nd. Guggenheim set a $58.00 price target on shares of Ameresco in a report on Monday, June 20th. Piper Sandler cut their target price on shares of Ameresco from $62.00 to $57.00 and set a neutral rating on the stock in a research report on Tuesday, July 19th. Finally, Raymond James cut their target price on shares of Ameresco from $85.00 to $65.00 and set an outperform rating on the stock in a research report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ameresco currently has a consensus rating of Moderate Buy and an average price target of $71.54.Get Ameresco alerts:
Ameresco Price Performance
AMRC stock opened at $68.22 on Monday. The company has a quick ratio of 1.74, a current ratio of 1.76 and a debt-to-equity ratio of 0.89. Ameresco has a 12 month low of $40.73 and a 12 month high of $101.86. The firm has a market cap of $3.53 billion, a P/E ratio of 38.11, a P/E/G ratio of 1.33 and a beta of 1.15. The company's 50-day moving average price is $64.80 and its two-hundred day moving average price is $60.21.Ameresco (NYSE:AMRC – Get Rating) last released its earnings results on Monday, August 1st. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.45 by $0.17. Ameresco had a net margin of 5.47% and a return on equity of 13.93%. During the same period last year, the company posted $0.34 EPS. On average, analysts anticipate that Ameresco will post 1.91 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Guinness Asset Management LTD lifted its position in shares of Ameresco by 0.6% during the 2nd quarter. Guinness Asset Management LTD now owns 466,253 shares of the utilities provider's stock valued at $21,242,000 after acquiring an additional 2,603 shares during the period. Guinness Atkinson Asset Management Inc increased its stake in Ameresco by 6.0% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 19,670 shares of the utilities provider's stock valued at $897,000 after purchasing an additional 1,114 shares in the last quarter. Legal & General Group Plc increased its stake in Ameresco by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 51,284 shares of the utilities provider's stock valued at $2,337,000 after purchasing an additional 1,219 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in Ameresco during the 2nd quarter valued at $429,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Ameresco during the 2nd quarter valued at $262,000. Institutional investors and hedge funds own 58.22% of the company's stock.
Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.
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