Piper Sandler Raises Ameresco (NYSE:AMRC) Price Target to $37.00

Ameresco (NYSE:AMRC) had its price objective raised by Piper Sandler from $30.00 to $37.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also weighed in on AMRC. Robert W. Baird upped their target price on shares of Ameresco from $28.00 to $32.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. StockNews.com raised shares of Ameresco to a sell rating in a research note on Monday, July 1st. Oppenheimer reissued a market perform rating on shares of Ameresco in a research note on Wednesday, April 17th. UBS Group raised their target price on shares of Ameresco from $36.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Finally, Raymond James lowered their price target on shares of Ameresco from $40.00 to $35.00 and set an outperform rating for the company in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ameresco has an average rating of Moderate Buy and a consensus price target of $40.85.

Ameresco Price Performance

Shares of NYSE:AMRC opened at $32.31 on Monday. Ameresco has a one year low of $17.55 and a one year high of $59.66. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.96 and a current ratio of 0.97. The company has a 50-day simple moving average of $31.78 and a 200-day simple moving average of $25.61. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 0.94 and a beta of 1.78.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The business had revenue of $298.41 million for the quarter, compared to analyst estimates of $255.38 million. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Ameresco will post 1.38 EPS for the current year.

Insider Transactions at Ameresco

In other news, CAO Mark Chiplock sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the transaction, the chief accounting officer now directly owns 348 shares in the company, valued at approximately $12,180. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 42.00% of the company’s stock.

Institutional Trading of Ameresco

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Ameresco during the 4th quarter worth about $62,000. GAMMA Investing LLC increased its position in shares of Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 2,880 shares in the last quarter. Cetera Trust Company N.A purchased a new position in shares of Ameresco in the fourth quarter worth approximately $106,000. SG Americas Securities LLC purchased a new position in Ameresco during the second quarter valued at approximately $156,000. Finally, Northside Capital Management LLC purchased a new position in Ameresco during the second quarter valued at approximately $216,000. 99.24% of the stock is currently owned by institutional investors.

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.