Ameresco (NYSE:AMRC) Given New $42.00 Price Target at Robert W. Baird

Ameresco (NYSE:AMRC) had its target price increased by Robert W. Baird from $32.00 to $42.00 in a report published on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the utilities provider’s stock.

A number of other equities research analysts have also weighed in on AMRC. StockNews.com upgraded Ameresco to a sell rating in a research note on Saturday, August 17th. Jefferies Financial Group started coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a hold rating and a $33.00 price target on the stock. UBS Group lifted their price objective 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. Piper Sandler dropped their price objective on shares of Ameresco from $37.00 to $35.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. Finally, B. Riley upgraded Ameresco to a strong-buy rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $38.46.

Ameresco Stock Down 3.6 %

Shares of Ameresco stock opened at $36.39 on Monday. Ameresco has a 1 year low of $17.55 and a 1 year high of $42.82. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.31 and a beta of 1.78. The firm’s 50-day moving average is $30.90 and its two-hundred day moving average is $28.26.

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

Insiders Place Their Bets

In other news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 5,221 shares of company stock valued at $140,814 in the last three months. 42.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameresco

Institutional investors have recently modified their holdings of the business. Natixis purchased a new stake in Ameresco in the first quarter valued at $480,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Ameresco by 187.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock valued at $1,982,000 after purchasing an additional 44,882 shares during the last quarter. Swedbank AB acquired a new stake in shares of Ameresco in the 1st quarter valued at about $12,065,000. Connors Investor Services Inc. grew its stake in Ameresco by 35.4% during the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock worth $3,449,000 after buying an additional 37,368 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in Ameresco during the first quarter worth approximately $1,009,000. 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.