Ameresco (NYSE:AMRC) Shares Up 7.4% – Should You Buy?

Ameresco, Inc. (NYSE:AMRC) was up 7.4% during trading on Thursday . The stock traded as high as $25.38 and last traded at $25.22. Approximately 48,493 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 454,792 shares. The stock had previously closed at $23.48.

Analysts Set New Price Targets

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

Ameresco Price Performance

The company has a 50 day moving average of $26.86 and a two-hundred day moving average of $29.85. The firm has a market cap of $1.44 billion, a P/E ratio of 27.51, a PEG ratio of 0.90 and a beta of 1.76. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Hedge Funds Weigh In On Ameresco

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Ameresco by 100.3% in the 3rd 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. The Manufacturers Life Insurance Company boosted its position in shares of Ameresco by 4.1% in the 2nd 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 increased its stake in Ameresco by 19.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,735 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 618 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ameresco by 20.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,620 shares of the utilities provider’s stock worth $508,000 after buying an additional 2,980 shares during the period. 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.