Ameresco (NYSE:AMRC) Stock Rating Reaffirmed by Oppenheimer

Ameresco (NYSE:AMRC)‘s stock had its “market perform” rating reissued by investment analysts at Oppenheimer in a report released on Wednesday, Benzinga reports.

Several other research firms have also weighed in on AMRC. BNP Paribas raised Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Tuesday, March 12th. Canaccord Genuity Group dropped their target price on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. Piper Sandler lowered their price objective on Ameresco from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Finally, B. Riley decreased their target price on Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.33.

Ameresco Stock Performance

AMRC opened at $18.56 on Wednesday. The firm has a market cap of $970.32 million, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.56. Ameresco has a 52-week low of $17.55 and a 52-week high of $63.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.24 and a current ratio of 1.25. The business’s fifty day moving average is $21.44 and its 200-day moving average is $25.97.

Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The company had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. Ameresco’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. Sell-side analysts expect that Ameresco will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its position in shares of Ameresco by 9.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,657 shares of the utilities provider’s stock valued at $129,000 after buying an additional 234 shares during the last quarter. Connors Investor Services Inc. boosted its position in shares of Ameresco by 0.5% during the fourth quarter. Connors Investor Services Inc. now owns 56,043 shares of the utilities provider’s stock valued at $3,202,000 after buying an additional 263 shares during the last quarter. Cibc World Market Inc. boosted its position in shares of Ameresco by 5.1% during the first quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock valued at $658,000 after buying an additional 399 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Ameresco by 0.5% during the second quarter. Segall Bryant & Hamill LLC now owns 92,789 shares of the utilities provider’s stock valued at $4,512,000 after buying an additional 418 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Ameresco by 1.0% during the third quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock valued at $1,730,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

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.