Ameresco (NYSE:AMRC) Given New $42.00 Price Target at Robert W. Baird

Ameresco (NYSE:AMRC) had its price objective upped by Robert W. Baird from $32.00 to $42.00 in a research report report published on Monday, Benzinga reports. Robert W. Baird currently has an outperform rating on the utilities provider’s stock.

AMRC has been the topic of several other reports. StockNews.com raised shares of Ameresco to a sell rating in a research report on Saturday, August 17th. B. Riley upgraded shares of Ameresco to a strong-buy rating in a research report on Tuesday, June 25th. UBS Group upped their target price on Ameresco from $39.00 to $40.00 and gave the company a buy rating in a research report on Thursday, September 5th. Jefferies Financial Group started coverage on Ameresco in a research note on Wednesday, September 4th. They issued a hold rating and a $33.00 price target for the company. Finally, Piper Sandler decreased their price objective on Ameresco from $37.00 to $35.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $38.46.

Ameresco Stock Performance

Shares of AMRC stock opened at $38.88 on Monday. The stock has a market cap of $2.03 billion, a P/E ratio of 35.35, a P/E/G ratio of 1.31 and a beta of 1.78. The company has a fifty day moving average price of $31.04 and a two-hundred day moving average price of $28.34. Ameresco has a one year low of $17.55 and a one year high of $41.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The business had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. During the same quarter in the prior year, the company earned $0.15 EPS. Ameresco’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, equities analysts predict that Ameresco will post 1.16 EPS for the current year.

Insider Activity

In related news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total value of $132,650.00. Following the transaction, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at $49,823.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMRC. Natixis bought a new stake in shares of Ameresco during the 1st quarter valued at approximately $480,000. Harbor Capital Advisors Inc. grew its stake in shares of Ameresco by 187.8% during the second quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after buying an additional 44,882 shares during the last quarter. Swedbank AB bought a new stake in shares of Ameresco during the first quarter worth $12,065,000. Connors Investor Services Inc. lifted its stake in shares of Ameresco by 35.4% in the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock valued at $3,449,000 after acquiring an additional 37,368 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Ameresco during the 1st quarter valued at $1,009,000. Institutional investors and hedge funds 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.