Ameresco (NYSE:AMRC) Price Target Cut to $32.00

Ameresco (NYSE:AMRC - Get Free Report) had its price objective dropped by equities research analysts at Stifel Nicolaus from $35.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the utilities provider's stock. Stifel Nicolaus' price target suggests a potential upside of 14.49% from the company's previous close.

Several other analysts also recently weighed in on AMRC. Robert W. Baird upped their price objective on Ameresco from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial decreased their price target on shares of Ameresco from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Piper Sandler dropped their price objective on shares of Ameresco from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, April 11th. 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 note on Wednesday, April 3rd. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Ameresco in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.42.

Ameresco Price Performance

Shares of AMRC traded up $1.01 during trading hours on Thursday, hitting $27.95. 480,480 shares of the company were exchanged, compared to its average volume of 534,376. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. Ameresco has a fifty-two week low of $17.55 and a fifty-two week high of $63.19. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 0.65 and a beta of 1.60. The firm's fifty day moving average is $21.42 and its 200 day moving average is $24.75.

Ameresco (NYSE:AMRC - Get Free Report) last released its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The firm had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. During the same period last year, the firm earned $0.03 EPS. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Ameresco will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Ameresco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider's stock valued at $98,479,000 after buying an additional 41,199 shares in the last quarter. Wellington Management Group LLP increased its holdings 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. Dimensional Fund Advisors LP raised its position in shares of Ameresco by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider's stock worth $28,890,000 after purchasing an additional 110,204 shares during the period. First Trust Advisors LP lifted its holdings in shares of Ameresco by 59.9% in the 4th quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider's stock worth $25,128,000 after purchasing an additional 297,236 shares in the last quarter. Finally, BNP Paribas Asset Management Holding S.A. acquired a new stake in Ameresco in the 4th quarter valued at $22,650,000. 99.24% of the stock is currently owned by institutional investors.

Ameresco Company 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.