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

Key Points

• Ameresco's stock price gapped up after Jefferies Financial Group upgraded the rating from hold to buy, setting a new price target of $39.00, up significantly from $19.00.
• Additional upgrades from various analysts include a rise in targets from multiple firms, with the average consensus price target now at $28.00.
• Ameresco recently reported earnings of $0.27 per share, significantly exceeding analysts' expectations, while the company's revenue grew by 7.8% year-over-year to $472.28 million.

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price gapped up before the market opened on Thursday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $31.61, but opened at $32.61. Jefferies Financial Group now has a $39.00 price target on the stock, up from their previous price target of $19.00. Ameresco shares last traded at $34.29, with a volume of 227,380 shares trading hands.

Other analysts also recently issued reports about the company. Robert W. Baird upgraded Ameresco from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $23.00 to $35.00 in a research report on Tuesday, September 2nd. Wall Street Zen raised Ameresco from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. B. Riley increased their price objective on Ameresco from $22.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. UBS Group raised Ameresco from a "sell" rating to a "neutral" rating and boosted their price target for the company from $11.00 to $23.00 in a report on Monday, August 18th. Finally, Baird R W raised Ameresco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $28.00.

Hedge Funds Weigh In On Ameresco

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Ameresco during the 1st quarter valued at $40,000. Tower Research Capital LLC TRC lifted its holdings in Ameresco by 99.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider's stock worth $53,000 after purchasing an additional 1,754 shares during the period. GAMMA Investing LLC grew 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 purchasing an additional 4,557 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Ameresco during the 1st quarter valued at $114,000. Finally, Advisors Asset Management Inc. lifted its position 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 valued at $118,000 after acquiring an additional 3,554 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company's stock.

Ameresco Stock Up 10.6%

The business has a fifty day moving average price of $23.27 and a two-hundred day moving average price of $16.76. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.56 and a quick ratio of 1.54. The firm has a market cap of $1.84 billion, a PE ratio of 29.82, a P/E/G ratio of 1.57 and a beta of 2.26.

Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $415.30 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

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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