Ameresco (NYSE:AMRC) Shares Up 6.6% – Still a Buy?

Ameresco, Inc. (NYSE:AMRC)’s share price rose 6.6% during trading on Thursday . The stock traded as high as $24.96 and last traded at $24.89. Approximately 107,168 shares were traded during trading, a decline of 65% from the average daily volume of 305,697 shares. The stock had previously closed at $23.35.

Analyst Ratings Changes

AMRC has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Robert W. Baird increased their price target on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler increased their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.90.

Ameresco Stock Performance

The firm has a market cap of $1.21 billion, a PE ratio of 23.05, a P/E/G ratio of 0.68 and a beta of 1.79. The firm has a 50-day moving average price of $25.68 and a two-hundred day moving average price of $29.46. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Institutional Investors Weigh In On Ameresco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Ameresco by 100.3% during the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 391 shares during the last quarter. Cetera Trust Company N.A boosted its holdings in Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 440 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Ameresco by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 12,374 shares of the utilities provider’s stock valued at $356,000 after purchasing an additional 489 shares during the period. GAMMA Investing LLC lifted its holdings in Ameresco by 19.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,735 shares of the utilities provider’s stock worth $142,000 after buying an additional 618 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in Ameresco by 1,294.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,279 shares during the last quarter. Institutional investors and hedge funds 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.