Ameresco (NYSE:AMRC) Price Target Cut to $82.00 by Analysts at Craig Hallum

Ameresco (NYSE:AMRCGet Rating) had its price objective lowered by Craig Hallum from $95.00 to $82.00 in a research report released on Tuesday, The Fly reports. Craig Hallum currently has a buy rating on the utilities provider’s stock.

AMRC has been the subject of several other research reports. Stifel Nicolaus lowered their price objective on shares of Ameresco from $91.00 to $82.00 and set a maintains rating for the company in a research report on Tuesday. Oppenheimer reduced their target price on shares of Ameresco from $90.00 to $76.00 in a research note on Tuesday, May 3rd. Canaccord Genuity Group reduced their target price on shares of Ameresco from $85.00 to $62.00 in a research note on Tuesday, May 3rd. Piper Sandler reduced their target price on shares of Ameresco from $62.00 to $57.00 and set a neutral rating on the stock in a research note on Tuesday, July 19th. Finally, Robert W. Baird reduced their target price on shares of Ameresco from $73.00 to $70.00 and set an outperform rating on the stock in a research note on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameresco has a consensus rating of Hold and a consensus target price of $69.85.

Ameresco Price Performance

AMRC stock opened at $64.00 on Tuesday. Ameresco has a 52 week low of $40.73 and a 52 week 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 fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $56.76. The firm has a market capitalization of $3.32 billion, a P/E ratio of 44.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22.

Ameresco (NYSE:AMRCGet Rating) last released its quarterly earnings data on Monday, August 1st. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.45 by $0.17. Ameresco had a net margin of 5.33% and a return on equity of 12.44%. During the same quarter last year, the company earned $0.34 earnings per share. Analysts anticipate that Ameresco will post 1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMRC. Vanguard Group Inc. increased its position in Ameresco by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,796,974 shares of the utilities provider’s stock valued at $222,359,000 after purchasing an additional 26,868 shares during the period. BlackRock Inc. increased its position in Ameresco by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock valued at $187,241,000 after purchasing an additional 72,667 shares during the period. Handelsbanken Fonder AB increased its position in Ameresco by 17.0% during the 1st quarter. Handelsbanken Fonder AB now owns 1,596,899 shares of the utilities provider’s stock valued at $126,953,000 after purchasing an additional 232,219 shares during the period. abrdn plc increased its position in Ameresco by 35.8% during the 1st quarter. abrdn plc now owns 1,105,487 shares of the utilities provider’s stock valued at $90,136,000 after purchasing an additional 291,408 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Ameresco by 17.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 887,385 shares of the utilities provider’s stock valued at $70,547,000 after purchasing an additional 135,021 shares during the period. Hedge funds and other institutional investors own 51.21% of the company’s stock.

About Ameresco

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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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