Ameresco (NYSE:AMRC) Shares Gap Up - Time to Buy?

Key Points

• Ameresco shares significantly gapped up from a previous closing price of $24.27 to open at $28.54, and last traded at $26.02 with a volume of 287,275 shares.
• Multiple research analysts have provided mixed ratings on Ameresco, with UBS upgrading it to "neutral" and Robert W. Baird upgrading it to "outperform", while Wall Street Zen downgraded it to "sell".
• Ameresco reported earnings per share of $0.27 for its last quarter, surpassing expectations, and set its FY 2025 guidance at 0.700-0.900 EPS.

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $24.27, but opened at $28.54. Ameresco shares last traded at $26.02, with a volume of 287,275 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on AMRC. B. Riley increased their price target on shares of Ameresco from $22.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Ameresco from $11.00 to $19.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. UBS Group upgraded shares of Ameresco from a "sell" rating to a "neutral" rating and raised their target price for the company from $11.00 to $23.00 in a research note on Monday, August 18th. Robert W. Baird upgraded shares of Ameresco from a "neutral" rating to an "outperform" rating and raised their target price for the company from $23.00 to $35.00 in a research note on Tuesday, September 2nd. Finally, Baird R W upgraded shares of Ameresco from a "hold" rating to a "strong-buy" rating in a research note 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ameresco has a consensus rating of "Moderate Buy" and an average target price of $25.14.

Ameresco Trading Up 0.1%

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 business's fifty day simple moving average is $21.19 and its two-hundred day simple moving average is $15.74. The stock has a market capitalization of $1.44 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.36 and a beta of 2.26.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating 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 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 firm earned $0.10 EPS. The business'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. As a group, analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Institutional Trading of Ameresco

A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP boosted its holdings in Ameresco by 1,832.5% in the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider's stock valued at $26,965,000 after purchasing an additional 1,683,326 shares during the period. DNB Asset Management AS lifted its holdings in shares of Ameresco by 3.8% during the 2nd quarter. DNB Asset Management AS now owns 1,189,714 shares of the utilities provider's stock worth $18,072,000 after acquiring an additional 43,411 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Ameresco by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 1,100,116 shares of the utilities provider's stock worth $13,289,000 after acquiring an additional 125,030 shares during the period. Gagnon Securities LLC lifted its holdings in shares of Ameresco by 69.6% during the 1st quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider's stock worth $11,700,000 after acquiring an additional 397,326 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Ameresco by 33.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 753,807 shares of the utilities provider's stock worth $11,450,000 after acquiring an additional 187,380 shares during the period. 99.24% of the stock is owned by institutional investors.

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.