Ameresco (NYSE:AMRC) Given a $58.00 Price Target at Guggenheim

Ameresco (NYSE:AMRCGet Rating) received a $58.00 price objective from analysts at Guggenheim in a report released on Monday, Stock Target Advisor reports. Guggenheim’s price target would suggest a potential upside of 28.55% from the stock’s current price.

AMRC has been the subject of a number of other research reports. Oppenheimer dropped their price target on Ameresco from $90.00 to $76.00 in a research note on Tuesday, May 3rd. StockNews.com began coverage on Ameresco in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Stifel Nicolaus decreased their target price on Ameresco from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, March 1st. Roth Capital decreased their target price on Ameresco from $52.00 to $44.00 in a research report on Tuesday, May 3rd. Finally, Bank of America cut Ameresco from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $81.00 in a research report on Thursday, March 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.23.

Shares of AMRC traded up $0.48 during midday trading on Monday, reaching $45.12. 20,937 shares of the stock were exchanged, compared to its average volume of 457,341. Ameresco has a twelve month low of $42.53 and a twelve month high of $101.86. The company has a quick ratio of 2.11, a current ratio of 2.14 and a debt-to-equity ratio of 0.90. The company has a market cap of $2.34 billion, a P/E ratio of 31.33, a PEG ratio of 0.95 and a beta of 1.02. The stock’s 50 day simple moving average is $54.73 and its 200 day simple moving average is $63.17.

Ameresco (NYSE:AMRCGet Rating) last posted its earnings results on Monday, May 2nd. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Ameresco had a return on equity of 12.44% and a net margin of 5.33%. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $418.42 million. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, analysts predict that Ameresco will post 1.89 earnings per share for the current year.

In related news, EVP Louis P. Maltezos sold 2,985 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $83.00, for a total value of $247,755.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 41.88% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AMRC. abrdn plc lifted its stake in Ameresco by 35.8% in the first quarter. abrdn plc now owns 1,105,487 shares of the utilities provider’s stock valued at $90,136,000 after buying an additional 291,408 shares during the period. Handelsbanken Fonder AB raised its position in shares of Ameresco by 17.0% during the first quarter. Handelsbanken Fonder AB now owns 1,596,899 shares of the utilities provider’s stock worth $126,953,000 after purchasing an additional 232,219 shares during the period. Granahan Investment Management LLC acquired a new position in shares of Ameresco during the first quarter worth approximately $12,969,000. Lord Abbett & CO. LLC raised its position in shares of Ameresco by 17.9% during the first quarter. Lord Abbett & CO. LLC now owns 887,385 shares of the utilities provider’s stock worth $70,547,000 after purchasing an additional 135,021 shares during the period. Finally, Kayne Anderson Capital Advisors LP acquired a new position in shares of Ameresco during the first quarter worth approximately $10,369,000. 51.21% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile (Get Rating)

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

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