Ameresco (NYSE:AMRC) Price Target Cut to $30.00

Ameresco (NYSE:AMRC) had its price target cut by Piper Sandler from $32.00 to $30.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other research analysts have also issued reports on AMRC. 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 report on Monday, February 5th. Guggenheim reaffirmed a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. 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 note on Thursday, February 29th. BNP Paribas upgraded Ameresco from a neutral rating to an outperform rating and set a $34.00 target price on the stock in a research report on Tuesday, March 12th. Finally, Bank of America lowered Ameresco from a buy rating to a neutral rating and lifted their price target for the stock from $29.00 to $37.00 in a research note on Friday, December 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Ameresco presently has an average rating of Moderate Buy and a consensus price target of $45.33.

Ameresco Stock Down 7.6 %

AMRC stock opened at $20.92 on Thursday. The firm’s fifty day moving average is $21.62 and its 200 day moving average is $26.33. The firm has a market cap of $1.09 billion, a PE ratio of 17.73, a P/E/G ratio of 0.60 and a beta of 1.56. Ameresco has a one year low of $17.55 and a one year high of $63.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25.

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

Institutional Trading of Ameresco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Ameresco by 17.8% in 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 purchasing an additional 176,971 shares during the period. First Eagle Investment Management LLC boosted its holdings in Ameresco by 32.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock valued at $10,975,000 after purchasing an additional 69,997 shares during the last quarter. Boston Partners purchased a new stake in shares of Ameresco in the 3rd quarter valued at approximately $2,143,000. Deutsche Bank AG increased its holdings in shares of Ameresco by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock worth $658,000 after buying an additional 2,426 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Ameresco by 20.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock valued at $11,275,000 after buying an additional 48,737 shares during the period. 99.24% of the stock is owned by institutional investors and hedge funds.

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.