Ameresco (NYSE:AMRC) Upgraded at Wall Street Zen

Key Points

• Ameresco has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment towards the stock.
• Jefferies Financial Group increased its target price for Ameresco from $11.00 to $19.00, while Robert W. Baird raised their forecast from $23.00 to $35.00, reflecting growing confidence in the company's performance.
• The company's recent earnings report exceeded expectations with a revenue of $472.28 million and EPS of $0.27, up significantly from analysts' estimates of $0.06.

Wall Street Zen upgraded shares of Ameresco (NYSE:AMRC - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group raised their price target on shares of Ameresco from $11.00 to $19.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Robert W. Baird raised shares of Ameresco from a "neutral" rating to an "outperform" rating and raised their price target for the company from $23.00 to $35.00 in a report on Tuesday, September 2nd. UBS Group raised shares of Ameresco from a "sell" rating to a "neutral" rating and raised their price target for the company from $11.00 to $23.00 in a report on Monday, August 18th. B. Riley raised their price target on shares of Ameresco from $22.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Baird R W raised shares of Ameresco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.14.

Ameresco Stock Performance

AMRC traded up $1.14 on Friday, hitting $33.29. The company's stock had a trading volume of 48,032 shares, compared to its average volume of 675,091. The company's 50 day simple moving average is $22.74 and its 200-day simple moving average is $16.55. The firm has a market cap of $1.75 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.54 and a beta of 2.25. Ameresco has a 12 month low of $8.49 and a 12 month high of $39.68. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.55.

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

Hedge Funds Weigh In On Ameresco

A number of large investors have recently added to or reduced their stakes in AMRC. Bank of America Corp DE raised its position in Ameresco by 6.0% in the 4th quarter. Bank of America Corp DE now owns 196,592 shares of the utilities provider's stock worth $4,616,000 after purchasing an additional 11,163 shares during the period. Deutsche Bank AG raised its position in Ameresco by 45.5% in the 4th quarter. Deutsche Bank AG now owns 33,535 shares of the utilities provider's stock worth $787,000 after purchasing an additional 10,483 shares during the period. Lazard Asset Management LLC raised its position in Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock worth $172,000 after purchasing an additional 4,362 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ameresco by 1.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider's stock worth $977,000 after purchasing an additional 747 shares during the period. Finally, ProShare Advisors LLC raised its position in Ameresco by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 9,074 shares of the utilities provider's stock worth $213,000 after purchasing an additional 2,986 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.