Ameresco (NYSE:AMRC) Shares Gap Up Following Analyst Upgrade

Key Points

• Ameresco shares gapped up to $26.43 following an upgrade by Robert W. Baird from a neutral to an outperform rating, with a new price target of $35.00.
• The stock has received varied ratings from analysts, with four rating it as a Buy, while three assigned a Hold rating, resulting in a consensus of "Moderate Buy" and an average target price of $24.00.
• Ameresco reported strong earnings results, with a quarterly revenue of $472.28 million, surpassing expectations and a year-over-year revenue increase of 7.8%.

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) gapped up before the market opened on Tuesday after Baird R W upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $25.43, but opened at $26.43. Ameresco shares last traded at $26.00, with a volume of 92,362 shares traded.

Several other brokerages have also recently commented on AMRC. Jefferies Financial Group increased their target price on shares of Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Robert W. Baird upgraded shares of Ameresco from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $23.00 to $35.00 in a report on Tuesday. Stifel Nicolaus reduced their target price on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a report on Monday, May 12th. UBS Group upgraded shares of Ameresco from a "sell" rating to a "neutral" rating and increased their target price for the stock from $11.00 to $23.00 in a report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Ameresco from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Institutional Trading of Ameresco

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Ameresco during the 1st quarter worth about $40,000. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider's stock worth $53,000 after buying an additional 1,754 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Ameresco by 145.0% during the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock worth $172,000 after buying an additional 4,362 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Ameresco by 132.0% during the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock worth $97,000 after buying an additional 4,557 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ameresco during the 4th quarter worth about $203,000. Institutional investors and hedge funds own 99.24% of the company's stock.

Ameresco Trading Down 0.6%

The business's 50 day moving average price is $20.18 and its 200-day moving average price is $15.50. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 1.55. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.30 and a beta of 2.26.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. Ameresco had a net margin of 3.34% and a return on equity of 7.00%. The business had revenue of $472.28 million for the quarter, compared to analyst estimates of $415.30 million. During the same period last year, the firm earned $0.10 earnings per share. Ameresco's revenue for the quarter 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, equities analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

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.