Ameresco (NYSE:AMRC) Stock Price Up 7.8% – Time to Buy?

Ameresco, Inc. (NYSE:AMRC) was up 7.8% on Wednesday . The company traded as high as $28.26 and last traded at $28.24. Approximately 18,988 shares traded hands during trading, a decline of 96% from the average daily volume of 467,624 shares. The stock had previously closed at $26.19.

Analysts Set New Price Targets

AMRC has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on Ameresco in a research report on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Piper Sandler increased their target price on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, UBS Group increased their price objective on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.91.

Ameresco Stock Up 8.9 %

The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.82. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The business has a fifty day moving average price of $31.90 and a two-hundred day moving average price of $31.27.

Hedge Funds Weigh In On Ameresco

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Ameresco by 100.3% in 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 period. nVerses Capital LLC acquired a new stake in Ameresco during the 2nd quarter worth about $75,000. Point72 DIFC Ltd purchased a new position in shares of Ameresco during the 2nd quarter valued at about $86,000. GAMMA Investing LLC lifted its holdings in shares of Ameresco by 1,215.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after buying an additional 2,880 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Ameresco by 1,294.9% in the third 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. 99.24% of the stock is owned by hedge funds and other institutional investors.

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.