Robert W. Baird Raises Ameresco (NYSE:AMRC) Price Target to $42.00

Ameresco (NYSE:AMRC) had its price objective hoisted by analysts at Robert W. Baird from $32.00 to $42.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 16.44% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group lifted their price objective on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Piper Sandler decreased their price objective on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. B. Riley upgraded shares of Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. StockNews.com raised Ameresco to a “sell” rating in a report on Saturday, August 17th. Finally, Jefferies Financial Group started coverage on Ameresco in a report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.46.

Ameresco Stock Performance

Shares of NYSE AMRC opened at $36.07 on Monday. The stock’s fifty day simple moving average is $30.61 and its 200 day simple moving average is $27.97. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.15 and a beta of 1.78. Ameresco has a 52-week low of $17.55 and a 52-week high of $42.82. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The business had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. As a group, sell-side analysts forecast that Ameresco will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 5,221 shares of company stock valued at $140,814. Corporate insiders own 42.00% of the company’s stock.

Institutional Investors Weigh In On Ameresco

A number of hedge funds have recently made changes to their positions in AMRC. Charles Schwab Investment Management Inc. increased its holdings in shares of Ameresco by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 252,083 shares of the utilities provider’s stock worth $7,983,000 after buying an additional 3,160 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ameresco by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock valued at $28,890,000 after buying an additional 110,204 shares in the last quarter. Quest Partners LLC bought a new position in shares of Ameresco in the fourth quarter valued at about $62,000. Otter Creek Advisors LLC lifted its position in Ameresco by 1.2% during the 4th quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock worth $2,181,000 after buying an additional 818 shares in the last quarter. Finally, KBC Group NV grew its holdings in Ameresco by 17.7% during the 4th quarter. KBC Group NV now owns 101,930 shares of the utilities provider’s stock worth $3,228,000 after acquiring an additional 15,336 shares during the last quarter. Institutional investors and hedge funds 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.