Ameresco (NYSE:AMRC) Shares Gap Up to $44.09

Ameresco, Inc. (NYSE:AMRC – Get Rating)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $44.09, but opened at $45.24. Ameresco shares last traded at $43.38, with a volume of 77,291 shares traded.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research note on Tuesday, January 10th. EF Hutton Acquisition Co. I lowered their price target on shares of Ameresco from $86.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Craig Hallum lowered their price target on shares of Ameresco from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Roth Capital upgraded shares of Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Wednesday, March 1st. Finally, Piper Sandler upgraded shares of Ameresco from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $57.00 to $64.00 in a research report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.79.

Ameresco Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.23. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 0.93 and a beta of 1.15. The stock’s fifty day simple moving average is $54.59 and its two-hundred day simple moving average is $59.88.

Ameresco (NYSE:AMRC – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The utilities provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Ameresco had a net margin of 5.20% and a return on equity of 12.44%. The business had revenue of $331.73 million during the quarter, compared to analyst estimates of $365.63 million. During the same period in the previous year, the company posted $0.50 earnings per share. Ameresco’s revenue was down 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameresco, Inc. will post 1.82 EPS for the current year.

Institutional Trading of Ameresco

Several institutional investors and hedge funds have recently bought and sold shares of AMRC. JPMorgan Chase & Co. raised its holdings in Ameresco by 24.8% during the 1st quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after buying an additional 17,857 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Ameresco by 58.9% in the 1st quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock valued at $1,271,000 after purchasing an additional 5,927 shares during the period. Rhumbline Advisers increased its holdings in shares of Ameresco by 6.8% in the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock valued at $2,562,000 after purchasing an additional 2,055 shares during the period. BlackRock Inc. increased its holdings in shares of Ameresco by 3.2% in 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. Finally, Cibc World Market Inc. increased its holdings in shares of Ameresco by 5.1% in the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 57.50% of the company’s stock.

About Ameresco

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.