Ameresco (NYSE:AMRC) Price Target Raised to $47.00

Ameresco (NYSE:AMRC) had its price target hoisted by equities research analysts at B. Riley Financial from $45.00 to $47.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. B. Riley Financial’s price objective would suggest a potential upside of 62.69% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ameresco in a research note on Monday, December 29th. William Blair upgraded Ameresco to a “hold” rating in a report on Tuesday, January 27th. Cantor Fitzgerald initiated coverage on shares of Ameresco in a research note on Friday, January 23rd. They set an “overweight” rating and a $41.00 price objective on the stock. Canaccord Genuity Group boosted their target price on shares of Ameresco from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.10.

Ameresco Trading Up 3.5%

Ameresco stock traded up $0.99 during midday trading on Wednesday, reaching $28.89. The stock had a trading volume of 145,818 shares, compared to its average volume of 497,407. The stock’s 50-day simple moving average is $31.40 and its 200 day simple moving average is $32.28. Ameresco has a twelve month low of $8.49 and a twelve month high of $44.93. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.50 and a current ratio of 1.51. The stock has a market capitalization of $1.53 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 1.07 and a beta of 2.53.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $581.03 million for the quarter, compared to the consensus estimate of $556.09 million. Ameresco had a return on equity of 4.55% and a net margin of 2.29%.The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Analysts expect that Ameresco will post 1.15 EPS for the current year.

Insider Transactions at Ameresco

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of Ameresco stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the transaction, the director owned 14,111 shares of the company’s stock, valued at $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 16,645 shares of company stock worth $568,297 in the last quarter. Company insiders own 44.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in shares of Ameresco in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Ameresco during the fourth quarter worth approximately $48,000. CoreCap Advisors LLC acquired a new stake in Ameresco in the third quarter worth approximately $50,000. Tower Research Capital LLC TRC boosted its stake in Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in Ameresco during the 4th quarter valued at $55,000. 99.24% of the stock is owned by institutional investors and hedge funds.

About Ameresco

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.