Ameresco (NYSE:AMRC) Given a $58.00 Price Target at Guggenheim

Guggenheim set a $58.00 target price on Ameresco (NYSE:AMRCGet Rating) in a report issued on Monday morning, Stock Target Advisor reports.

AMRC has been the topic of several other research reports. TheStreet lowered shares of Ameresco from a b- rating to a c+ rating in a research note on Tuesday, March 1st. StockNews.com started coverage on shares of Ameresco in a research report on Thursday, March 31st. They issued a sell rating for the company. Piper Sandler boosted their target price on Ameresco from $64.00 to $65.00 in a research note on Thursday, April 21st. Bank of America downgraded shares of Ameresco from a buy rating to a neutral rating and decreased their target price for the company from $85.00 to $81.00 in a research report on Thursday, March 24th. Finally, Raymond James increased their price target on Ameresco from $70.00 to $85.00 and gave the stock an outperform rating in a report on Tuesday, April 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ameresco presently has a consensus rating of Hold and a consensus price target of $76.23.

Shares of NYSE:AMRC opened at $47.96 on Monday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 0.96 and a beta of 1.02. Ameresco has a one year low of $42.53 and a one year high of $101.86. The company has a 50-day simple moving average of $53.68 and a 200-day simple moving average of $62.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.11 and a current ratio of 2.14.

Ameresco (NYSE:AMRCGet Rating) last released its quarterly earnings results on Monday, May 2nd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.08. The firm had revenue of $474.00 million for the quarter, compared to the consensus estimate of $418.42 million. Ameresco had a net margin of 5.33% and a return on equity of 12.44%. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, research analysts forecast that Ameresco will post 1.89 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. abrdn plc raised its holdings in shares of Ameresco by 35.8% in 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. Handelsbanken Fonder AB boosted its position in Ameresco by 17.0% in the first quarter. Handelsbanken Fonder AB now owns 1,596,899 shares of the utilities provider’s stock valued at $126,953,000 after buying an additional 232,219 shares in the last quarter. Granahan Investment Management LLC bought a new position in Ameresco during the first quarter worth $12,969,000. Lord Abbett & CO. LLC increased its stake in Ameresco by 17.9% in the first 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 in the last quarter. Finally, Kayne Anderson Capital Advisors LP acquired a new position in shares of Ameresco during the first quarter valued at about $10,369,000. 51.21% of the stock is currently owned by institutional investors and hedge funds.

About Ameresco (Get Rating)

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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