Ameresco (NYSE:AMRC) Reaches New 12-Month High - Here's Why

Key Points

• Ameresco's stock reached a new 12-month high of $44.93, closing at $41.74 after trading over 923,822 shares.
• Several brokerages have recently upgraded their ratings on Ameresco, with Jefferies predicting a price target increase from $19.00 to $39.00 and Robert W. Baird upgrading from "neutral" to "outperform" with a new target of $35.00.
• Ameresco reported $0.27 EPS for the last quarter, surpassing estimates, with a 7.8% year-over-year revenue increase and a current market cap of $2.19 billion.

Ameresco, Inc. (NYSE:AMRC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.93 and last traded at $41.74, with a volume of 923822 shares traded. The stock had previously closed at $38.18.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMRC. Jefferies Financial Group upgraded shares of Ameresco from a "hold" rating to a "buy" rating and upped their price target for the stock from $19.00 to $39.00 in a research report on Thursday, September 25th. Weiss Ratings reissued a "hold (c-)" rating on shares of Ameresco in a research note on Wednesday, October 8th. UBS Group raised shares of Ameresco from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $11.00 to $23.00 in a research note on Monday, August 18th. Wall Street Zen downgraded shares of Ameresco from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, Robert W. Baird raised shares of Ameresco from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $23.00 to $35.00 in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ameresco currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Ameresco Stock Performance

The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 1.86 and a beta of 2.33. The stock's fifty day moving average is $28.31 and its 200-day moving average is $19.14. 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 issued its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. The firm had revenue of $472.28 million during the quarter, compared to analysts' expectations of $415.30 million. Ameresco had a net margin of 3.34% and a return on equity of 7.00%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ameresco by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,477 shares of the utilities provider's stock valued at $513,000 after purchasing an additional 884 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Ameresco by 2.2% in the 1st quarter. Alps Advisors Inc. now owns 50,285 shares of the utilities provider's stock valued at $607,000 after purchasing an additional 1,060 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Ameresco by 12.4% in the 1st quarter. Harvest Portfolios Group Inc. now owns 12,570 shares of the utilities provider's stock valued at $152,000 after purchasing an additional 1,390 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Ameresco by 5.2% in the 1st quarter. Deutsche Bank AG now owns 35,265 shares of the utilities provider's stock valued at $426,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted 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 valued at $53,000 after purchasing an additional 1,754 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company's stock.

About Ameresco

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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