Ameresco (NYSE:AMRC) Given New $35.00 Price Target at Raymond James

Ameresco (NYSE:AMRCGet Free Report) had its price objective cut by investment analysts at Raymond James from $40.00 to $35.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Raymond James’ target price points to a potential upside of 49.32% from the company’s current price.

A number of other equities analysts have also recently weighed in on AMRC. Bank of America cut 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. B. Riley lowered their price objective on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. BNP Paribas raised Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Tuesday, March 12th. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group dropped their price objective on shares of Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

View Our Latest Analysis on Ameresco

Ameresco Price Performance

AMRC stock traded down $0.42 on Wednesday, hitting $23.44. 216,280 shares of the company’s stock traded hands, compared to its average volume of 542,143. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 0.80 and a beta of 1.56. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19. The stock has a fifty day moving average of $21.47 and a 200-day moving average of $27.40.

Ameresco (NYSE:AMRCGet Free Report) last announced 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 company had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, analysts forecast that Ameresco will post 1.4 EPS for the current fiscal year.

Institutional Trading of Ameresco

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Ameresco by 24.8% during the 1st quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after acquiring an additional 17,857 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Ameresco by 58.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock worth $1,271,000 after purchasing an additional 5,927 shares during the last quarter. Rhumbline Advisers boosted its stake in Ameresco by 6.8% during the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock valued at $2,562,000 after purchasing an additional 2,055 shares during the period. BlackRock Inc. lifted its position in Ameresco by 3.2% in the first quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock worth $187,241,000 after purchasing an additional 72,667 shares during the period. Finally, Cibc World Market Inc. boosted its stake in Ameresco by 5.1% during the first quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock worth $658,000 after buying an additional 399 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ameresco (NYSE:AMRC)

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