Ameresco (NYSE:AMRC) Upgraded by Baird R W to "Strong-Buy" Rating

Key Points

• A strong-buy rating was recently assigned to Ameresco by Baird R W, an upgrade from a previous "hold" rating, indicating growing confidence in the company's stock.
• The company's quarterly earnings exceeded estimates, reporting $0.27 EPS against a consensus of $0.06, alongside a revenue of $472.28 million which surpassed expectations.
• A significant 99.24% of Ameresco's stock is now owned by institutional investors and hedge funds, reflecting strong interest and investment from larger financial entities.

Baird R W upgraded shares of Ameresco (NYSE:AMRC - Free Report) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Canaccord Genuity Group boosted their target price on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group boosted their target price on 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 Ameresco from a "sell" rating to a "neutral" rating and boosted their target price for the company from $11.00 to $23.00 in a research note on Monday, August 18th. Wall Street Zen upgraded Ameresco from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Stifel Nicolaus reduced their price target on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Ameresco has an average rating of "Moderate Buy" and an average price target of $24.00.

Ameresco Stock Performance

Ameresco stock traded down $0.17 during mid-day trading on Tuesday, reaching $25.84. 474,450 shares of the company's stock were exchanged, compared to its average volume of 553,531. The business's fifty day simple moving average is $20.18 and its 200 day simple moving average is $15.47. The firm has a market capitalization of $1.36 billion, a PE ratio of 22.08, a P/E/G ratio of 1.29 and a beta of 2.26. Ameresco has a one year low of $8.49 and a one year high of $39.68. 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 issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. The business had revenue of $472.28 million for the quarter, compared to analyst estimates of $415.30 million. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.Ameresco's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. On average, sell-side analysts expect that Ameresco will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ameresco by 6.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,273 shares of the utilities provider's stock worth $711,000 after purchasing an additional 1,967 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Ameresco in the 4th quarter valued at about $203,000. Algert Global LLC lifted its stake in shares of Ameresco by 5.0% in the 4th quarter. Algert Global LLC now owns 167,888 shares of the utilities provider's stock valued at $3,942,000 after acquiring an additional 7,985 shares during the last quarter. Bank of America Corp DE raised its position in Ameresco by 6.0% during the 4th quarter. Bank of America Corp DE now owns 196,592 shares of the utilities provider's stock valued at $4,616,000 after purchasing an additional 11,163 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in Ameresco by 25.4% during the 4th quarter. Captrust Financial Advisors now owns 22,131 shares of the utilities provider's stock valued at $520,000 after purchasing an additional 4,484 shares during the last quarter. 99.24% of the stock is currently 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.