Ameresco (NYSE:AMRC) Shares Up 8.6% After Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price rose 8.6% on Tuesday after UBS Group raised their price target on the stock from $36.00 to $39.00. UBS Group currently has a buy rating on the stock. Ameresco traded as high as $31.14 and last traded at $31.03. Approximately 59,273 shares changed hands during trading, a decline of 89% from the average daily volume of 533,928 shares. The stock had previously closed at $28.56.

A number of other research firms have also recently weighed in on AMRC. Truist Financial cut their price objective on shares of Ameresco from $40.00 to $37.00 and set a "buy" rating for the company in a report on Monday, April 22nd. Piper Sandler dropped their target price on shares of Ameresco from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Thursday, April 11th. B. Riley decreased their target price on Ameresco from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Oppenheimer restated a "market perform" rating on shares of Ameresco in a report on Wednesday, April 17th. Finally, Guggenheim restated a "neutral" rating on shares of Ameresco in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.31.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Natixis purchased a new position in shares of Ameresco during the 1st quarter valued at approximately $480,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Ameresco by 14.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,353 shares of the utilities provider's stock worth $877,000 after purchasing an additional 4,600 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Ameresco by 51.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 9,931 shares of the utilities provider's stock valued at $239,000 after buying an additional 3,374 shares during the last quarter. Nicola Wealth Management LTD. raised its stake in Ameresco by 30.9% during the first quarter. Nicola Wealth Management LTD. now owns 72,000 shares of the utilities provider's stock valued at $1,737,000 after buying an additional 17,000 shares in the last quarter. Finally, Connors Investor Services Inc. increased its holdings in shares of Ameresco by 35.4% in the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider's stock valued at $3,449,000 after acquiring an additional 37,368 shares during the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $21.79 and a 200-day moving average of $24.69. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.80 and a beta of 1.60.

Ameresco (NYSE:AMRC - Get Free Report) last issued its earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The firm had revenue of $298.41 million for the quarter, compared to analysts' expectations of $255.38 million. During the same quarter last year, the company posted $0.03 earnings per share. Ameresco's revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Ameresco, Inc. will post 1.38 earnings per share for the current fiscal year.

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.