Granahan Investment Management LLC Raises Stock Position in Ameresco, Inc. $AMRC

Key Points

• Granahan Investment Management LLC significantly increased its holdings in Ameresco, Inc. by 3,822.9%, acquiring 405,879 additional shares, bringing its total to 416,496 shares valued at approximately $5.03 million.
• Analysts have set new price targets for Ameresco, with ratings ranging from "Strong Buy" to "Hold," and an average consensus price target of $24.00, following recent upgrades from firms including Jefferies Financial Group and Baird R W.
• Ameresco reported $0.27 EPS for the latest quarter, exceeding estimates, and demonstrated a 7.8% revenue growth year-over-year with total revenue of $472.28 million.

Granahan Investment Management LLC lifted its stake in shares of Ameresco, Inc. (NYSE:AMRC - Free Report) by 3,822.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 416,496 shares of the utilities provider's stock after buying an additional 405,879 shares during the quarter. Granahan Investment Management LLC owned about 0.79% of Ameresco worth $5,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bridgeway Capital Management LLC purchased a new position in shares of Ameresco during the 1st quarter worth approximately $2,957,000. AQR Capital Management LLC purchased a new stake in Ameresco during the 1st quarter valued at $820,000. Advisors Asset Management Inc. lifted its holdings in shares of Ameresco by 57.4% during the 1st quarter. Advisors Asset Management Inc. now owns 9,744 shares of the utilities provider's stock valued at $118,000 after buying an additional 3,554 shares during the period. Graham Capital Management L.P. lifted its holdings in shares of Ameresco by 284.0% during the 1st quarter. Graham Capital Management L.P. now owns 73,942 shares of the utilities provider's stock valued at $893,000 after buying an additional 54,687 shares during the period. Finally, Harvest Portfolios Group Inc. lifted its holdings in shares of Ameresco by 12.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 12,570 shares of the utilities provider's stock valued at $152,000 after buying an additional 1,390 shares during the period. Hedge funds and other institutional investors own 99.24% of the company's stock.

Ameresco Trading Up 2.3%

Ameresco stock traded up $0.55 during trading on Tuesday, hitting $24.82. The company had a trading volume of 764,036 shares, compared to its average volume of 671,826. The company's 50 day simple moving average is $20.35 and its 200-day simple moving average is $15.48. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.29 and a beta of 2.25. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 1.55. Ameresco, Inc. has a 1-year low of $8.49 and a 1-year high of $39.68.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AMRC shares. Jefferies Financial Group raised their target price on Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Stifel Nicolaus cut their price objective on Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, May 12th. UBS Group upgraded Ameresco from a "sell" rating to a "neutral" rating and raised their price objective for the company from $11.00 to $23.00 in a research report on Monday, August 18th. Wall Street Zen lowered Ameresco from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Robert W. Baird upgraded Ameresco from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $23.00 to $35.00 in a research report on Tuesday, September 2nd. One research 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 company. According to MarketBeat.com, Ameresco currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.