Ameresco (NYSE:AMRC) Price Target Lowered to $37.00 at Truist Financial

Ameresco (NYSE:AMRC) had its price target cut by Truist Financial from $40.00 to $37.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group cut their price objective on Ameresco from $50.00 to $36.00 and set a buy rating for the company in a research report on Thursday, February 29th. B. Riley dropped their price target on Ameresco from $46.00 to $40.00 and set a buy rating for the company in a research report on Monday, February 5th. BNP Paribas upgraded Ameresco from a neutral rating to an outperform rating and set a $34.00 price target for the company in a research report on Tuesday, March 12th. Guggenheim reiterated a neutral rating on shares of Ameresco in a research report on Thursday, February 29th. Finally, Oppenheimer reiterated a market perform rating on shares of Ameresco in a research report on Wednesday, April 17th. 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 stock presently has a consensus rating of Moderate Buy and an average target price of $44.69.

Ameresco Stock Up 1.5 %

Ameresco stock opened at $19.09 on Monday. The stock has a market capitalization of $998.08 million, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. Ameresco has a 12 month low of $17.55 and a 12 month high of $63.19. The business has a 50 day simple moving average of $21.24 and a 200-day simple moving average of $25.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24.

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

Hedge Funds Weigh In On Ameresco

Several large investors have recently modified their holdings of AMRC. Quest Partners LLC acquired a new position in shares of Ameresco in the 4th quarter valued at $62,000. Cetera Trust Company N.A acquired a new position in shares of Ameresco in the 4th quarter valued at $106,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Ameresco in the 3rd quarter valued at $268,000. Quantbot Technologies LP acquired a new position in shares of Ameresco in the 3rd quarter valued at $295,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Ameresco by 8.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 752 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.