Ameresco (NYSE:AMRC) Trading 5.7% Higher - Should You Buy?

Key Points

• Ameresco's stock rose 5.7% during mid-day trading, closing at $21.56, despite a significant drop in trading volume compared to its average daily activity.
• Several analysts provided mixed ratings on Ameresco's stock, with targets ranging from $11.00 to $29.00 and an overall consensus rating of "Hold," indicating uncertainty in the market.
• The company reported earnings per share of $0.27 for the most recent quarter, exceeding analysts' expectations and showing a revenue increase of 7.8% year-over-year.

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s stock price rose 5.7% during mid-day trading on Friday . The stock traded as high as $21.42 and last traded at $21.56. Approximately 137,466 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 676,627 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

AMRC has been the subject of several recent research reports. Piper Sandler set a $21.00 price target on shares of Ameresco and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a report on Monday, May 12th. Wall Street Zen lowered shares of Ameresco from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Canaccord Genuity Group raised their price objective 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. Finally, UBS Group reaffirmed a "sell" rating and issued a $11.00 price objective on shares of Ameresco in a research note on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.33.

Ameresco Trading Up 8.8%

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.03 and a beta of 2.27. The business's fifty day moving average is $17.37 and its 200 day moving average is $15.08. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.55.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $472.28 million for the quarter, compared to analyst estimates of $415.30 million. Ameresco had a net margin of 3.34% and a return on equity of 7.00%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Equities analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Institutional Trading of Ameresco

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new position in Ameresco in the first quarter worth about $1,043,000. Allspring Global Investments Holdings LLC boosted its position in shares of Ameresco by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,964 shares of the utilities provider's stock worth $205,000 after purchasing an additional 5,949 shares during the period. Rock Point Advisors LLC lifted its holdings in shares of Ameresco by 97.7% in the first quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider's stock worth $6,245,000 after buying an additional 255,538 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ameresco by 29.8% in the fourth quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider's stock worth $7,560,000 after buying an additional 73,928 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Ameresco during the first quarter valued at $250,000. 99.24% of the stock is owned by hedge funds and other 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.

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