UBS Group Issues Positive Forecast for Ameresco (NYSE:AMRC) Stock Price

Ameresco (NYSE:AMRC) had its target price upped by UBS Group from $8.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the utilities provider’s stock. UBS Group’s price target points to a potential downside of 18.55% from the company’s current price.

Other analysts also recently issued research reports about the stock. Baird R W downgraded shares of Ameresco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Robert W. Baird restated a “neutral” rating and issued a $13.00 target price (down from $25.00) on shares of Ameresco in a research note on Tuesday, April 15th. Stifel Nicolaus lowered their price target on shares of Ameresco from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, May 12th. Piper Sandler set a $21.00 price objective on shares of Ameresco and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Ameresco from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.67.

Ameresco Stock Down 2.0%

Shares of Ameresco stock opened at $13.51 on Tuesday. Ameresco has a twelve month low of $8.49 and a twelve month high of $39.68. The stock has a market cap of $709.62 million, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The company has a fifty day moving average price of $11.97 and a 200 day moving average price of $17.91.

Ameresco (NYSE:AMRC) last issued its earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The company’s revenue was up 18.2% compared to the same quarter last year. Equities research analysts forecast that Ameresco will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at Ameresco

In related news, CEO George P. Sakellaris bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief executive officer now directly owns 978,638 shares in the company, valued at approximately $9,071,974.26. The trade was a 2.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 27,308 shares of company stock valued at $253,429. Insiders own 42.00% of the company’s stock.

Institutional Trading of Ameresco

A number of institutional investors and hedge funds have recently made changes to their positions in AMRC. Barclays PLC grew its stake in Ameresco by 204.2% during the 3rd quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock worth $2,248,000 after buying an additional 39,773 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Ameresco during the fourth quarter valued at $259,000. Figure 8 Investment Strategies LLC bought a new position in shares of Ameresco during the fourth quarter worth about $707,000. Bank of New York Mellon Corp increased its holdings in shares of Ameresco by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after acquiring an additional 859 shares during the period. Finally, Nicola Wealth Management LTD. lifted its position in Ameresco by 3.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 55,000 shares of the utilities provider’s stock valued at $1,291,000 after purchasing an additional 2,000 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.