Ameresco (NYSE:AMRC – Get Rating) was upgraded by analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, Marketbeat reports. The firm currently has a $73.00 price target on the utilities provider's stock, down from their prior price target of $74.00. Bank of America's price target suggests a potential upside of 10.21% from the stock's previous close.
A number of other equities research analysts have also commented on the company. Stifel Nicolaus decreased their price target on Ameresco from $91.00 to $82.00 and set a "buy" rating on the stock in a research report on Tuesday, August 2nd. Guggenheim set a $58.00 price target on Ameresco in a research report on Monday, June 20th. Raymond James reduced their price objective on Ameresco from $85.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, July 12th. Craig Hallum reduced their price objective on Ameresco from $95.00 to $82.00 and set a "buy" rating on the stock in a report on Tuesday, August 2nd. Finally, Piper Sandler reduced their price objective on Ameresco from $62.00 to $57.00 and set a "neutral" rating on the stock in a report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.54.
Get Ameresco alerts:Ameresco Trading Down 2.9 %
AMRC stock opened at $66.24 on Monday. Ameresco has a 1-year low of $40.73 and a 1-year high of $101.86. The firm has a market cap of $3.43 billion, a P/E ratio of 37.01, a P/E/G ratio of 1.33 and a beta of 1.15. The business's 50 day moving average is $65.21 and its 200-day moving average is $60.25. The company has a current ratio of 1.76, a quick ratio of 1.74 and a debt-to-equity ratio of 0.89.
Ameresco (NYSE:AMRC – Get Rating) last released its quarterly earnings results on Monday, August 1st. The utilities provider reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.17. Ameresco had a return on equity of 13.93% and a net margin of 5.47%. During the same quarter last year, the firm posted $0.34 EPS. Equities analysts anticipate that Ameresco will post 1.91 earnings per share for the current fiscal year.Institutional Trading of Ameresco
Several hedge funds have recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC raised its stake in Ameresco by 1.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 20,200 shares of the utilities provider's stock worth $1,606,000 after buying an additional 300 shares during the period. Sumitomo Life Insurance Co. increased its holdings in Ameresco by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 7,496 shares of the utilities provider's stock worth $342,000 after purchasing an additional 323 shares in the last quarter. Clayton Partners LLC increased its holdings in Ameresco by 1.3% during the 1st quarter. Clayton Partners LLC now owns 27,621 shares of the utilities provider's stock worth $2,196,000 after purchasing an additional 342 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Ameresco by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,612 shares of the utilities provider's stock worth $446,000 after purchasing an additional 355 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in Ameresco by 5.1% during the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider's stock worth $658,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 58.22% of the company's stock.
Ameresco Company Profile
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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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