Ameresco (NYSE:AMRC) Shares Up 10.2% - Should You Buy?

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shares rose 10.2% during trading on Tuesday . The company traded as high as $19.54 and last traded at $19.66. Approximately 530,009 shares traded hands during trading, an increase of 1% from the average daily volume of 524,000 shares. The stock had previously closed at $17.83.

Wall Street Analysts Forecast Growth

AMRC has been the topic of a number of recent analyst reports. UBS Group reiterated a "sell" rating and issued a $11.00 price objective on shares of Ameresco in a research report on Tuesday, June 3rd. Piper Sandler set a $21.00 price target on Ameresco and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Jefferies Financial Group increased their price target on shares of Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday. Canaccord Genuity Group upped their target price on shares of Ameresco from $27.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $13.00 target price (down previously from $25.00) on shares of Ameresco in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.33.

Ameresco Stock Down 3.6%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.56 and a current ratio of 1.57. The stock's 50 day moving average price is $16.00 and its 200-day moving average price is $15.55. The company has a market cap of $951.52 million, a PE ratio of 17.76, a PEG ratio of 0.86 and a beta of 2.22.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.15. Ameresco had a net margin of 2.97% and a return on equity of 6.32%. The business had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The company's revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of Ameresco by 9.4% during the fourth quarter. American Century Companies Inc. now owns 752,375 shares of the utilities provider's stock valued at $17,666,000 after acquiring an additional 64,764 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Ameresco during the 4th quarter valued at approximately $146,000. LPL Financial LLC raised its position in Ameresco by 11.4% during the 4th quarter. LPL Financial LLC now owns 67,261 shares of the utilities provider's stock valued at $1,551,000 after purchasing an additional 6,872 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ameresco by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider's stock worth $74,767,000 after buying an additional 37,359 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Ameresco in the 4th quarter worth approximately $296,000. 99.24% of the stock is currently owned by institutional investors.

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.