Ameresco (NYSE:AMRC) Trading Up 6.6% – Should You Buy?

Ameresco, Inc. (NYSE:AMRC)’s stock price was up 6.6% during trading on Thursday . The stock traded as high as $24.96 and last traded at $24.89. Approximately 107,168 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 305,697 shares. The stock had previously closed at $23.35.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMRC. Stifel Nicolaus lifted their target price on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Piper Sandler lifted their price objective on shares of Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.90.

Ameresco Price Performance

The business has a fifty day moving average of $25.89 and a 200-day moving average of $29.51. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The firm has a market cap of $1.29 billion, a PE ratio of 24.51, a PEG ratio of 0.68 and a beta of 1.79.

Hedge Funds Weigh In On Ameresco

Large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Ameresco by 81.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after purchasing an additional 450,571 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Ameresco during the second quarter valued at $10,821,000. DekaBank Deutsche Girozentrale grew its position in Ameresco by 3,389.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock worth $7,124,000 after buying an additional 179,635 shares in the last quarter. Erste Asset Management GmbH bought a new position in Ameresco in the 3rd quarter worth about $6,319,000. Finally, Redwood Grove Capital LLC raised its holdings in shares of Ameresco by 41.9% in the 3rd quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock valued at $18,966,000 after acquiring an additional 147,642 shares in the last quarter. 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.