Ameresco (NYSE:AMRC) Stock Price Up 7.1% - Should You Buy?

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shot up 7.1% during mid-day trading on Thursday . The stock traded as high as $15.85 and last traded at $15.86. Approximately 61,428 shares traded hands during trading, a decline of 90% from the average daily volume of 638,279 shares. The stock had previously closed at $14.81.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMRC. Piper Sandler set a $21.00 target price on Ameresco and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their price target on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Baird R W cut shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. UBS Group reaffirmed a "sell" rating and issued a $11.00 price objective on shares of Ameresco in a report on Tuesday, June 3rd. Finally, Canaccord Genuity Group raised their target price on shares of Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Ameresco Price Performance

The firm has a market capitalization of $818.31 million, a P/E ratio of 15.22, a P/E/G ratio of 0.71 and a beta of 2.24. The business's fifty day moving average is $13.57 and its 200 day moving average is $16.64. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.50.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC increased its holdings in shares of Ameresco by 87.7% in the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider's stock valued at $9,888,000 after purchasing an additional 196,776 shares during the period. Vanguard Group Inc. increased its position in Ameresco by 1.2% during the fourth 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 last quarter. Victory Capital Management Inc. lifted its position in shares of Ameresco by 96.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider's stock worth $1,060,000 after buying an additional 22,197 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Ameresco by 29.8% during the 4th quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider's stock worth $7,560,000 after acquiring an additional 73,928 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Ameresco during the 4th quarter valued at about $1,699,000. 99.24% of the stock is owned by hedge funds and other 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.

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