Ameresco (NYSE:AMRC) Price Target Raised to $38.00 at Piper Sandler

Ameresco (NYSE:AMRC - Get Free Report) had its price target upped by Piper Sandler from $35.00 to $38.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Piper Sandler's target price would suggest a potential upside of 26.75% from the stock's current price.

A number of other research firms also recently issued reports on AMRC. Jefferies Financial Group started coverage on shares of Ameresco in a research note on Wednesday, September 4th. They issued a "hold" rating and a $33.00 price target for the company. UBS Group increased their price target on shares of Ameresco from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. B. Riley raised shares of Ameresco to a "strong-buy" rating in a research note on Tuesday, June 25th. Robert W. Baird upped their price objective on shares of Ameresco from $32.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Ameresco to a "sell" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.33.

Ameresco Trading Down 2.5 %

Shares of NYSE:AMRC traded down $0.76 during midday trading on Tuesday, hitting $29.98. 366,923 shares of the stock traded hands, compared to its average volume of 477,334. The stock has a market capitalization of $1.57 billion, a PE ratio of 27.25, a P/E/G ratio of 1.21 and a beta of 1.79. The business's 50 day moving average is $32.64 and its two-hundred day moving average is $29.97. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. Ameresco has a one year low of $17.55 and a one year high of $39.68.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The firm had revenue of $437.98 million for the quarter, compared to the consensus estimate of $373.75 million. During the same period last year, the company posted $0.15 earnings per share. The business's revenue was up 33.9% on a year-over-year basis. As a group, research analysts forecast that Ameresco will post 1.16 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares in the company, valued at approximately $49,823.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Ameresco by 100.3% in the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider's stock worth $30,000 after acquiring an additional 391 shares during the period. nVerses Capital LLC purchased a new stake in Ameresco in the 2nd quarter worth $75,000. Point72 DIFC Ltd bought a new position in shares of Ameresco in the second quarter worth about $86,000. GAMMA Investing LLC grew its position in shares of Ameresco by 1,215.2% during the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider's stock worth $90,000 after purchasing an additional 2,880 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Ameresco during the 2nd quarter valued at approximately $156,000. 99.24% of the stock is currently owned by institutional investors.

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.