Piper Sandler Boosts Ameresco (NYSE:AMRC) Price Target to $80.00

Ameresco (NYSE:AMRC) had its target price hoisted by Piper Sandler from $77.00 to $80.00 in a research report sent to investors on Tuesday morning, The Fly reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the stock. B. Riley upped their price objective on shares of Ameresco from $72.00 to $75.00 and gave the company a buy rating in a research note on Thursday, July 1st. Canaccord Genuity reduced their price objective on shares of Ameresco from $82.00 to $73.00 and set a buy rating on the stock in a research note on Wednesday, August 4th. Bank of America lowered shares of Ameresco from a buy rating to a neutral rating and upped their price objective for the company from $65.00 to $70.00 in a research note on Friday, July 23rd. Finally, Zacks Investment Research downgraded shares of Ameresco from a buy rating to a hold rating in a research report on Tuesday, July 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $67.50.

AMRC opened at $70.30 on Tuesday. Ameresco has a fifty-two week low of $28.94 and a fifty-two week high of $75.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.40 and a quick ratio of 1.37. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 3.00 and a beta of 0.43. The company’s 50 day moving average price is $66.71 and its two-hundred day moving average price is $57.41.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Sunday, August 1st. The utilities provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. Ameresco had a net margin of 6.08% and a return on equity of 12.91%. The company had revenue of $273.92 million for the quarter, compared to analyst estimates of $260.82 million. As a group, equities research analysts predict that Ameresco will post 1.28 EPS for the current year.

In other Ameresco news, CEO George P. Sakellaris sold 1,646 shares of the stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $72.42, for a total transaction of $119,203.32. Following the completion of the transaction, the chief executive officer now owns 1,054,644 shares in the company, valued at $76,377,318.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George P. Sakellaris sold 3,572 shares of the stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $69.26, for a total transaction of $247,396.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,143 shares of company stock valued at $8,103,009. 41.68% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AMRC. Mirae Asset Global Investments Co. Ltd. raised its position in Ameresco by 140.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,269 shares of the utilities provider’s stock worth $1,180,000 after buying an additional 14,171 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Ameresco by 135.1% during the 1st quarter. Voloridge Investment Management LLC now owns 39,533 shares of the utilities provider’s stock worth $1,922,000 after acquiring an additional 22,718 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Ameresco by 150.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 300,000 shares of the utilities provider’s stock valued at $19,747,000 after buying an additional 180,000 shares during the period. JPMorgan Chase & Co. increased its stake in Ameresco by 154.5% in the first quarter. JPMorgan Chase & Co. now owns 180,952 shares of the utilities provider’s stock worth $8,799,000 after purchasing an additional 109,846 shares during the period. Finally, Nicola Wealth Management LTD. grew its position in shares of Ameresco by 46.2% during the 1st quarter. Nicola Wealth Management LTD. now owns 95,000 shares of the utilities provider’s stock worth $4,620,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Ameresco

Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.

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