Ameresco (NYSE:AMRC) Price Target Cut to $37.00

Ameresco (NYSE:AMRC - Get Free Report) had its price target dropped by research analysts at Truist Financial from $40.00 to $37.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. Truist Financial's target price would indicate a potential upside of 93.82% from the company's current price.

A number of other brokerages have also weighed in on AMRC. BNP Paribas upgraded Ameresco from a "neutral" rating to an "outperform" rating and set a $34.00 price objective for the company in a research report on Tuesday, March 12th. Guggenheim restated a "neutral" rating on shares of Ameresco in a research report on Thursday, February 29th. StockNews.com upgraded Ameresco to a "sell" rating in a research report on Tuesday, April 16th. B. Riley cut their price objective on Ameresco from $46.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, February 5th. Finally, Raymond James dropped their price target on Ameresco from $40.00 to $35.00 and set an "outperform" rating for the company in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $44.69.

Ameresco Price Performance

AMRC stock traded up $0.29 during trading on Monday, reaching $19.09. The company's stock had a trading volume of 406,834 shares, compared to its average volume of 541,515. Ameresco has a 1 year low of $17.55 and a 1 year high of $63.19. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $998.08 million, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The company's fifty day moving average is $21.24 and its 200-day moving average is $25.63.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million during the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. On average, research analysts expect that Ameresco will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Ameresco

Several institutional investors have recently added to or reduced their stakes in AMRC. BNP Paribas Asset Management Holding S.A. bought a new stake in Ameresco in the fourth quarter worth about $22,650,000. First Trust Advisors LP raised its stake in shares of Ameresco by 59.9% during the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider's stock valued at $25,128,000 after acquiring an additional 297,236 shares in the last quarter. Trustees of Princeton University bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $7,170,000. Ashford Capital Management Inc. bought a new stake in shares of Ameresco during the third quarter valued at approximately $7,858,000. Finally, Wellington Management Group LLP raised its stake in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider's stock valued at $45,083,000 after acquiring an additional 176,971 shares in the last quarter. 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.