Ameresco (NYSE:AMRC) Shares Gap Up on Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC) shares gapped up before the market opened on Tuesday after Robert W. Baird upgraded the stock from a neutral rating to an outperform rating. The stock had previously closed at $25.43, but opened at $26.43. Robert W. Baird now has a $35.00 price target on the stock, up from their previous price target of $23.00. Ameresco shares last traded at $26.00, with a volume of 92,362 shares traded.

Several other analysts have also recently issued reports on the stock. Piper Sandler set a $21.00 price objective on shares of Ameresco and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Stifel Nicolaus dropped their price objective on shares of Ameresco from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, May 12th. 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 note on Tuesday, May 6th. Jefferies Financial Group lifted their price objective on Ameresco from $11.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised Ameresco from a “sell” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Ameresco currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its holdings in Ameresco by 106.4% during the 2nd quarter. Squarepoint Ops LLC now owns 187,363 shares of the utilities provider’s stock worth $2,846,000 after buying an additional 96,606 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Ameresco in the 2nd quarter valued at about $2,300,000. JCP Investment Management LLC lifted its holdings in shares of Ameresco by 16.4% in the 2nd quarter. JCP Investment Management LLC now owns 16,297 shares of the utilities provider’s stock valued at $248,000 after purchasing an additional 2,297 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ameresco by 99.4% in 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 during the last quarter. Finally, Redwood Grove Capital LLC increased its position in Ameresco by 36.0% in the 2nd quarter. Redwood Grove Capital LLC now owns 679,833 shares of the utilities provider’s stock valued at $10,327,000 after acquiring an additional 179,943 shares during the period. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Price Performance

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.27 and a beta of 2.25. The company has a 50-day moving average of $19.33 and a 200-day moving average of $15.26. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.54 and a current ratio of 1.56.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Ameresco had a return on equity of 7.00% and a net margin of 3.34%.The company had revenue of $472.28 million for the quarter, compared to analysts’ expectations of $415.30 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Ameresco has set its FY 2025 guidance at 0.700-0.900 EPS. As a group, equities research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

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.