Ameresco (NYSE:AMRC) Stock Price Up 6.9%

Ameresco, Inc. (NYSE:AMRC) was up 6.9% during trading on Tuesday . The stock traded as high as $20.46 and last traded at $20.41. Approximately 38,009 shares changed hands during trading, a decline of 93% from the average daily volume of 534,810 shares. The stock had previously closed at $19.09.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James reduced their price target on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Truist Financial reduced their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Tuesday, March 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. Finally, Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

Ameresco Price Performance

The company has a market cap of $1.10 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The business’s 50 day moving average price is $21.24 and its 200-day moving average price is $25.63. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, analysts forecast that Ameresco, Inc. will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMRC. Quest Partners LLC acquired a new position in shares of Ameresco during the fourth quarter worth about $62,000. Cetera Trust Company N.A acquired a new stake in Ameresco during the fourth quarter worth about $106,000. Dynamic Advisor Solutions LLC acquired a new position in Ameresco during the third quarter worth about $268,000. Quantbot Technologies LP acquired a new stake in shares of Ameresco during the third quarter valued at about $295,000. Finally, Victory Capital Management Inc. raised its position in Ameresco by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 752 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

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.