Connors Investor Services Inc. Sells 11,556 Shares of Ameresco, Inc. $AMRC

Key Points

• Connors Investor Services Inc. reduced its stake in Ameresco, Inc. by 5.2%, selling 11,556 shares to hold a total of 211,429 shares valued at approximately $3.21 million.
• Analyst ratings for Ameresco show a mix, with one brokerage upgrading to a "strong-buy" and others maintaining neutral ratings, resulting in an overall consensus of Moderate Buy with a price target of $30.67.
• Ameresco reported strong earnings with an EPS of $0.27, exceeding expectations, and revenue for the quarter was $472.28 million, representing a 7.8% increase year-over-year.

Connors Investor Services Inc. lessened its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,429 shares of the utilities provider's stock after selling 11,556 shares during the quarter. Connors Investor Services Inc. owned 0.40% of Ameresco worth $3,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Ameresco by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 1,100,116 shares of the utilities provider's stock worth $13,289,000 after buying an additional 125,030 shares during the period. Gagnon Securities LLC lifted its position in shares of Ameresco by 69.6% during the 1st quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider's stock worth $11,700,000 after buying an additional 397,326 shares during the period. Bandera Partners LLC lifted its position in shares of Ameresco by 125.2% during the 1st quarter. Bandera Partners LLC now owns 734,355 shares of the utilities provider's stock worth $8,871,000 after buying an additional 408,257 shares during the period. Rock Point Advisors LLC lifted its position in shares of Ameresco by 97.7% during the 1st 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 during the period. Finally, Gagnon Advisors LLC lifted its position in shares of Ameresco by 73.4% during the 1st quarter. Gagnon Advisors LLC now owns 472,798 shares of the utilities provider's stock worth $5,711,000 after buying an additional 200,104 shares during the period. Institutional investors own 99.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMRC. BNP Paribas Exane reiterated a "neutral" rating and issued a $40.00 price objective on shares of Ameresco in a research report on Tuesday. BNP Paribas downgraded Ameresco from an "outperform" rating to a "neutral" rating and set a $40.00 price objective for the company. in a research report on Tuesday. Baird R W upgraded Ameresco from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Robert W. Baird upgraded Ameresco from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $23.00 to $35.00 in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group upgraded Ameresco from a "hold" rating to a "buy" rating and lifted their price objective for the company 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 issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.67.

Ameresco Stock Up 0.3%

Shares of Ameresco stock opened at $38.21 on Thursday. 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, Inc. has a 12 month low of $8.49 and a 12 month high of $44.93. The business has a fifty day simple moving average of $31.08 and a 200 day simple moving average of $20.43. The stock has a market cap of $2.01 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 1.86 and a beta of 2.33.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The business had revenue of $472.28 million during the quarter, compared to analysts' expectations of $415.30 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. Research analysts predict that Ameresco, Inc. will post 1.15 EPS for the current year.

Ameresco 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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