Ameresco (NYSE:AMRC) Price Target Cut to $35.00

Ameresco (NYSE:AMRC - Get Free Report) had its price objective decreased by investment analysts at Raymond James from $40.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. Raymond James' price objective points to a potential upside of 49.38% from the stock's previous close.

A number of other equities research analysts have also recently commented on AMRC. BNP Paribas raised shares of Ameresco from a "neutral" rating to an "outperform" rating and set a $34.00 target price for the company in a report on Tuesday, March 12th. B. Riley cut their price target on shares of Ameresco from $46.00 to $40.00 and set a "buy" rating for the company in a report on Monday, February 5th. Guggenheim reissued a "neutral" rating on shares of Ameresco in a report on Thursday, February 29th. Canaccord Genuity Group cut their price target on shares of Ameresco from $50.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler cut their price target on shares of Ameresco from $42.00 to $32.00 and set an "overweight" rating for the company in a report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameresco has a consensus rating of "Moderate Buy" and an average target price of $45.50.

Ameresco Stock Performance

NYSE AMRC traded down $0.43 during trading hours on Wednesday, hitting $23.43. The company had a trading volume of 505,682 shares, compared to its average volume of 546,868. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19. The company has a market cap of $1.22 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.56. The business has a 50 day moving average of $21.50 and a 200-day moving average of $27.37.

Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.09. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The business had revenue of $441.40 million during the quarter, compared to analysts' expectations of $399.98 million. During the same period in the prior year, the company earned $0.35 earnings per share. The business's revenue was up 33.1% compared to the same quarter last year. As a group, equities research analysts expect that Ameresco will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Ameresco by 24.8% in the first quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider's stock valued at $7,141,000 after purchasing an additional 17,857 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Ameresco by 58.9% in the first quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider's stock valued at $1,271,000 after purchasing an additional 5,927 shares during the last quarter. Rhumbline Advisers grew its position in shares of Ameresco by 6.8% in the first quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider's stock valued at $2,562,000 after purchasing an additional 2,055 shares during the last quarter. BlackRock Inc. grew its position in shares of Ameresco by 3.2% in the first quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider's stock valued at $187,241,000 after purchasing an additional 72,667 shares during the last quarter. Finally, Cibc World Market Inc. boosted its position in Ameresco by 5.1% during the first quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider's stock worth $658,000 after acquiring an additional 399 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.