Ameresco (NYSE:AMRC) Shares Gap Down to $24.12

Ameresco, Inc. (NYSE:AMRC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $24.12, but opened at $22.39. Ameresco shares last traded at $22.14, with a volume of 39,014 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMRC shares. Raymond James reduced their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. BNP Paribas raised shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Tuesday, March 12th. Piper Sandler decreased their price target on shares of Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, B. Riley lowered their price objective on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Ameresco Price Performance

The firm has a market capitalization of $1.18 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 0.66 and a beta of 1.56. The stock’s 50 day simple moving average is $21.63 and its two-hundred day simple moving average is $26.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. The firm had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. On average, sell-side analysts forecast that Ameresco, Inc. will post 1.4 EPS for the current year.

Institutional Investors Weigh In On Ameresco

A number of hedge funds have recently modified their holdings of AMRC. Vanguard Group Inc. raised its stake in Ameresco by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock worth $98,479,000 after purchasing an additional 41,199 shares during the period. Handelsbanken Fonder AB raised its position in shares of Ameresco by 5.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock valued at $107,181,000 after buying an additional 150,000 shares during the period. BlackRock Inc. lifted its holdings in Ameresco by 3.8% in the third quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock valued at $167,305,000 after acquiring an additional 92,278 shares during the last quarter. Macquarie Group Ltd. grew its position in Ameresco by 1.9% in the first quarter. Macquarie Group Ltd. now owns 1,215,729 shares of the utilities provider’s stock worth $59,838,000 after acquiring an additional 23,123 shares during the period. Finally, Wellington Management Group LLP increased its stake in Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after acquiring an additional 176,971 shares during the last quarter. Hedge funds and other institutional investors 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.