Truist Financial Trims Ameresco (NYSE:AMRC) Target Price to $37.00

Ameresco (NYSE:AMRC) had its target price cut by Truist Financial from $40.00 to $37.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

AMRC has been the topic of several other reports. Piper Sandler lowered their price target on shares of Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. Raymond James lowered their price target on shares of Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, April 3rd. Oppenheimer reiterated a market perform rating on shares of Ameresco in a research report on Wednesday, April 17th. Canaccord Genuity Group lowered their price target on shares of Ameresco from $50.00 to $36.00 and set a buy rating on the stock in a research report on Thursday, February 29th. Finally, B. Riley lowered their price target on shares of Ameresco from $46.00 to $40.00 and set a buy rating on the stock in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $44.69.

Ameresco Stock Up 1.9 %

AMRC stock opened at $21.29 on Monday. The company has a market cap of $1.11 billion, a P/E ratio of 18.04, a P/E/G ratio of 0.55 and a beta of 1.56. Ameresco has a 52 week low of $17.55 and a 52 week high of $63.19. The company’s 50-day moving average price is $21.22 and its 200 day moving average price is $25.54. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, research analysts expect that Ameresco will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ameresco

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Ameresco by 1.0% during the third quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock worth $1,730,000 after purchasing an additional 465 shares during the period. Bridge City Capital LLC raised its stake in Ameresco by 0.8% during the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 622 shares during the period. Victory Capital Management Inc. raised its stake in shares of Ameresco by 8.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after acquiring an additional 752 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ameresco by 5.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,941 shares of the utilities provider’s stock valued at $576,000 after acquiring an additional 800 shares during the period. Finally, Otter Creek Advisors LLC raised its stake in shares of Ameresco by 1.2% in the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after acquiring an additional 818 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.