Ameresco (NYSE:AMRC) Shares Gap Up – Should You Buy?

Ameresco, Inc. (NYSE:AMRC) shares gapped up prior to trading on Monday . The stock had previously closed at $25.49, but opened at $27.39. Ameresco shares last traded at $27.10, with a volume of 53,238 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler upped their price target 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. Jefferies Financial Group initiated coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group increased their price target on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird lifted their price target on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.91.

Ameresco Trading Up 9.4 %

The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.82. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.00. The business has a fifty day moving average price of $32.98 and a 200 day moving average price of $31.18.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently made changes to their positions in AMRC. Russell Investments Group Ltd. lifted its stake in Ameresco by 11.6% during the first quarter. Russell Investments Group Ltd. now owns 82,273 shares of the utilities provider’s stock worth $1,985,000 after purchasing an additional 8,542 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Ameresco by 15.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,595 shares of the utilities provider’s stock worth $256,000 after buying an additional 1,410 shares in the last quarter. Vanguard Group Inc. grew its holdings in Ameresco by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after acquiring an additional 36,303 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Ameresco by 51.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,931 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 3,374 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Ameresco by 14.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,353 shares of the utilities provider’s stock worth $877,000 after acquiring an additional 4,600 shares during 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.