Oppenheimer Reiterates “Market Perform” Rating for Ameresco (NYSE:AMRC)

Oppenheimer reaffirmed their market perform rating on shares of Ameresco (NYSE:AMRC) in a report published on Wednesday, Benzinga reports.

Several other analysts have also recently issued reports on AMRC. BNP Paribas upgraded Ameresco from a neutral rating to an outperform rating and set a $34.00 price objective on the stock in a research note on Tuesday, March 12th. Piper Sandler reduced their price objective on Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Canaccord Genuity Group reduced their price objective on Ameresco from $50.00 to $36.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Guggenheim reiterated a neutral rating on shares of Ameresco in a research note on Thursday, February 29th. Finally, Raymond James dropped their target price on Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $45.33.

Ameresco Stock Up 1.6 %

NYSE:AMRC opened at $18.85 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $21.36 and its two-hundred day moving average is $25.85. Ameresco has a 52 week low of $17.55 and a 52 week high of $63.19. The stock has a market capitalization of $985.48 million, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56.

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

Hedge Funds Weigh In On Ameresco

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after purchasing an additional 176,971 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Ameresco by 32.6% during the third quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider’s stock worth $10,975,000 after purchasing an additional 69,997 shares during the last quarter. Boston Partners purchased a new position in shares of Ameresco during the third quarter worth about $2,143,000. Deutsche Bank AG grew its holdings in shares of Ameresco by 16.6% during the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock worth $658,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Ameresco by 20.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider’s stock worth $11,275,000 after buying an additional 48,737 shares during the last quarter. Hedge funds and other institutional investors 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.