Ameresco (NYSE:AMRC) Price Target Raised to $62.00

Ameresco (NYSE:AMRC) had its price objective upped by Canaccord Genuity Group from $59.00 to $62.00 in a report published on Tuesday, Marketbeat reports. The firm currently has a buy rating on the utilities provider’s stock.

A number of other research firms also recently weighed in on AMRC. Weiss Ratings downgraded Ameresco from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 11th. Guggenheim started coverage on shares of Ameresco in a research note on Friday, May 22nd. They set a “neutral” rating on the stock. Zacks Research raised Ameresco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Oppenheimer reissued a “market perform” rating on shares of Ameresco in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on Ameresco from $44.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Ameresco Stock Performance

NYSE AMRC opened at $25.55 on Tuesday. The firm’s 50 day simple moving average is $26.28 and its 200 day simple moving average is $28.25. The company has a current ratio of 1.67, a quick ratio of 1.48 and a debt-to-equity ratio of 1.33. Ameresco has a 1 year low of $18.38 and a 1 year high of $44.93. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 1.88 and a beta of 2.62.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $515.46 million for the quarter, compared to analyst estimates of $465.18 million. Ameresco had a return on equity of 2.82% and a net margin of 1.40%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. Ameresco has set its FY 2026 guidance at 1.150-1.350 EPS. As a group, research analysts expect that Ameresco will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameresco

In other news, Director Nickolas Stavropoulos sold 1,355 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $34.00, for a total transaction of $46,070.00. Following the completion of the transaction, the director directly owned 14,111 shares of the company’s stock, valued at $479,774. The trade was a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer L. Miller sold 10,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.27, for a total value of $322,700.00. Following the transaction, the director directly owned 22,111 shares in the company, valued at $713,521.97. The trade was a 31.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,355 shares of company stock worth $852,270. Company insiders own 45.10% of the company’s stock.

Institutional Trading of Ameresco

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Ameresco by 170.0% during the third quarter. Wellington Management Group LLP now owns 4,735,585 shares of the utilities provider’s stock valued at $159,021,000 after purchasing an additional 2,981,689 shares during the period. First Trust Advisors LP raised its stake in Ameresco by 503.4% during the 4th quarter. First Trust Advisors LP now owns 1,066,571 shares of the utilities provider’s stock worth $31,240,000 after acquiring an additional 889,820 shares during the period. Swedbank AB raised its stake in Ameresco by 74.3% during the 1st quarter. Swedbank AB now owns 645,000 shares of the utilities provider’s stock worth $16,448,000 after acquiring an additional 275,000 shares during the period. Invesco Ltd. lifted its holdings in Ameresco by 54.7% during the third quarter. Invesco Ltd. now owns 575,173 shares of the utilities provider’s stock valued at $19,314,000 after purchasing an additional 203,374 shares in the last quarter. Finally, Redwood Grove Capital LLC increased its stake in shares of Ameresco by 36.0% in the second quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock worth $10,327,000 after purchasing an additional 179,943 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.