Ameresco (NYSE:AMRC) Stock Price Up 7.4% - What's Next?

Key Points

• Ameresco's stock price increased by 7.4% during mid-day trading, reaching a peak of $36.07, although the trading volume was significantly lower than average.
• Recent upgrades from multiple brokerages have raised Ameresco's target price, with some analysts now recommending a strong buy, indicating positive sentiment towards the company's growth prospects.
• The company reported strong quarterly earnings, surpassing analyst expectations with an EPS of $0.27 and revenues of $472.28 million, a year-over-year increase of 7.8%.

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shares shot up 7.4% during mid-day trading on Wednesday . The company traded as high as $35.94 and last traded at $36.07. 143,146 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 680,799 shares. The stock had previously closed at $33.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMRC. UBS Group raised Ameresco from a "sell" rating to a "neutral" rating and raised their target price for the stock from $11.00 to $23.00 in a research report on Monday, August 18th. Wall Street Zen upgraded Ameresco from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Robert W. Baird upgraded Ameresco from a "neutral" rating to an "outperform" rating and upped their target price for the company from $23.00 to $35.00 in a report on Tuesday, September 2nd. Baird R W upgraded shares of Ameresco from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group upgraded shares of Ameresco from a "hold" rating to a "buy" rating and increased their target price for the stock from $19.00 to $39.00 in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $28.00.

Ameresco Price Performance

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's fifty day moving average is $24.54 and its two-hundred day moving average is $17.47. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 1.70 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 (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $415.30 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The business's quarterly 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, research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Ameresco

Several institutional investors have recently added to or reduced their stakes in AMRC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ameresco by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,684 shares of the utilities provider's stock worth $2,106,000 after buying an additional 13,127 shares during the period. GAMMA Investing LLC increased its holdings in shares of Ameresco by 132.0% in the first quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 4,557 shares during the period. Vanguard Capital Wealth Advisors purchased a new position in Ameresco during the 1st quarter worth $211,000. Clean Yield Group increased its position in Ameresco by 6.3% during the 1st quarter. Clean Yield Group now owns 112,746 shares of the utilities provider's stock worth $1,362,000 after purchasing an additional 6,718 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Ameresco by 731.8% in the first quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider's stock worth $2,787,000 after acquiring an additional 202,970 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company's stock.

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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