Ameresco (NYSE:AMRC) Hits New 52-Week High - Should You Buy?

Key Points

• Ameresco's stock hit a new 52-week high at $39.70 and is currently trading around $38.91, with over 556,000 shares exchanged.
• Analyst ratings have generally improved, with several upgrades including a target price raise from UBS Group to $23 and from B. Riley to $32, indicating increased confidence in the company's performance.
• The company reported strong quarterly earnings, with EPS of $0.27, surpassing estimates, and a revenue increase of 7.8% year-over-year, setting a positive outlook for the current fiscal year with an average EPS prediction of 1.15.

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $39.70 and last traded at $38.91, with a volume of 556627 shares traded. The stock had previously closed at $38.25.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMRC. UBS Group raised Ameresco from a "sell" rating to a "neutral" rating and upped their target price for the stock from $11.00 to $23.00 in a research note on Monday, August 18th. B. Riley upped their target price on Ameresco from $22.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Baird R W raised Ameresco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Robert W. Baird raised Ameresco from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $23.00 to $35.00 in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Ameresco from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ameresco presently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Ameresco Trading Up 1.7%

The company has a 50 day moving average of $26.47 and a 200 day moving average of $18.34. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.54 and a current ratio of 1.56. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 33.26, a P/E/G ratio of 1.91 and a beta of 2.33.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The firm had revenue of $472.28 million during the quarter, compared to the consensus estimate of $415.30 million. During the same period in the prior year, the company earned $0.10 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, research analysts predict that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Institutional Trading of Ameresco

A number of hedge funds and other institutional investors have recently modified their holdings of AMRC. Headlands Technologies LLC acquired a new stake in shares of Ameresco in the 1st quarter worth $40,000. Tower Research Capital LLC TRC increased its stake in shares of Ameresco by 99.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider's stock worth $53,000 after acquiring an additional 1,754 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ameresco by 132.0% in the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock worth $97,000 after acquiring an additional 4,557 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Ameresco in the 1st quarter worth $114,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Ameresco by 57.4% in the 1st quarter. Advisors Asset Management Inc. now owns 9,744 shares of the utilities provider's stock worth $118,000 after acquiring an additional 3,554 shares during the last quarter. 99.24% of the stock is 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.

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