Canaccord Genuity Group Boosts Ameresco (NYSE:AMRC) Price Target to $29.00

Ameresco (NYSE:AMRC - Get Free Report) had its price target lifted by research analysts at Canaccord Genuity Group from $27.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. Canaccord Genuity Group's target price indicates a potential upside of 150.43% from the stock's previous close.

A number of other brokerages have also recently commented on AMRC. Stifel Nicolaus decreased their target price on Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Robert W. Baird restated a "neutral" rating and issued a $13.00 price target (down previously from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. UBS Group cut Ameresco from a "buy" rating to a "sell" rating and lowered their price objective for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Baird R W lowered shares of Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $23.17.

Ameresco Price Performance

Shares of NYSE:AMRC opened at $11.58 on Tuesday. The business has a 50-day simple moving average of $11.04 and a two-hundred day simple moving average of $20.16. Ameresco has a fifty-two week low of $8.49 and a fifty-two week high of $39.68. The firm has a market cap of $608.42 million, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.11. The business had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. On average, analysts expect that Ameresco will post 1.15 earnings per share for the current year.

Insider Activity

In other news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $9.67 per share, with a total value of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares in the company, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George P. Sakellaris acquired 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $9.27 per share, with a total value of $231,750.00. Following the acquisition, the chief executive officer now owns 978,638 shares in the company, valued at $9,071,974.26. This trade represents a 2.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 80,808 shares of company stock worth $785,274 over the last 90 days. Corporate insiders own 42.00% of the company's stock.

Institutional Trading of Ameresco

Several institutional investors and hedge funds have recently modified their holdings of AMRC. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Ameresco during the 1st quarter valued at $180,000. Hussman Strategic Advisors Inc. purchased a new stake in Ameresco in the first quarter worth about $1,015,000. Victory Capital Management Inc. lifted its stake in Ameresco by 159.8% in the first quarter. Victory Capital Management Inc. now owns 117,274 shares of the utilities provider's stock worth $1,417,000 after acquiring an additional 72,137 shares during the period. Alps Advisors Inc. increased its position in Ameresco by 2.2% during the 1st quarter. Alps Advisors Inc. now owns 50,285 shares of the utilities provider's stock valued at $607,000 after purchasing an additional 1,060 shares during the period. Finally, Rock Point Advisors LLC increased its position in Ameresco by 97.7% during the 1st quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider's stock valued at $6,245,000 after purchasing an additional 255,538 shares during the period. Institutional investors own 99.24% of the company's stock.

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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