Ameresco (NYSE:AMRC) Price Target Cut to $37.00 by Analysts at Truist Financial

Ameresco (NYSE:AMRC) had its price objective cut by analysts at Truist Financial from $40.00 to $37.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Truist Financial’s price target points to a potential upside of 77.29% from the company’s current price.

Several other analysts also recently issued reports on AMRC. StockNews.com upgraded Ameresco to a “sell” rating in a research note on Tuesday, April 16th. B. Riley cut their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Raymond James cut their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. BNP Paribas upgraded Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Tuesday, March 12th. Finally, Canaccord Genuity Group cut their target price on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Ameresco Stock Up 9.3 %

AMRC stock opened at $20.87 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.09 billion, a PE ratio of 17.69, a PEG ratio of 0.54 and a beta of 1.56. Ameresco has a 1-year low of $17.55 and a 1-year high of $63.19. The business’s 50 day simple moving average is $21.24 and its 200 day simple moving average is $25.63.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.09. The business had revenue of $441.40 million during the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. As a group, research analysts anticipate that Ameresco will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Ameresco

Several large investors have recently added to or reduced their stakes in AMRC. Quest Partners LLC acquired a new stake in Ameresco during the fourth quarter worth approximately $62,000. Cetera Trust Company N.A bought a new position in Ameresco in the fourth quarter worth approximately $106,000. Dynamic Advisor Solutions LLC bought a new position in Ameresco in the third quarter worth approximately $268,000. Quantbot Technologies LP bought a new position in Ameresco in the third quarter worth approximately $295,000. Finally, Victory Capital Management Inc. boosted its holdings in Ameresco by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 752 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.