Ameresco (NYSE:AMRC) Sets New 52-Week High – Time to Buy?

Ameresco, Inc. (NYSE:AMRC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.00 and last traded at $37.59, with a volume of 906711 shares changing hands. The stock had previously closed at $33.58.

Analyst Upgrades and Downgrades

AMRC has been the topic of several recent research reports. B. Riley boosted their price objective on shares of Ameresco from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Robert W. Baird raised shares of Ameresco from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $35.00 in a research note on Tuesday, September 2nd. Jefferies Financial Group raised shares of Ameresco from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $39.00 in a research note on Thursday, September 25th. Baird R W raised shares of Ameresco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of Ameresco from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $28.00.

Ameresco Stock Performance

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 1.67 and a beta of 2.33. The stock’s 50 day moving average is $24.90 and its 200 day moving average is $17.61. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 1.55.

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

Institutional Investors Weigh In On Ameresco

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Ameresco during the 1st quarter worth about $1,043,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Ameresco by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,964 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 5,949 shares during the last quarter. Rock Point Advisors LLC boosted its stake in shares of Ameresco by 97.7% during the 1st quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider’s stock worth $6,245,000 after purchasing an additional 255,538 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Ameresco by 68.0% during the 1st quarter. Inspire Investing LLC now owns 28,688 shares of the utilities provider’s stock worth $347,000 after acquiring an additional 11,611 shares during the period. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Ameresco during the 1st quarter worth about $250,000. 99.24% of the stock is owned by institutional investors and hedge funds.

About Ameresco

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.