Ameresco (NYSE:AMRC) Shares Up 7.4% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have commented on AMRC. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lifted their target price on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 11th. Robert W. Baird upped their price target on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group initiated coverage on Ameresco in a research note on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, UBS Group boosted their price target on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Ameresco Price Performance

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 24.93, a P/E/G 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. The stock has a fifty day moving average of $27.05 and a 200-day moving average of $29.92.

Hedge Funds Weigh In On Ameresco

Several large investors have recently bought and sold shares of AMRC. Wellington Management Group LLP boosted its holdings in shares of Ameresco by 81.3% in the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after acquiring an additional 450,571 shares during the period. Geode Capital Management LLC boosted its stake in Ameresco by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock worth $28,642,000 after purchasing an additional 10,197 shares during the period. LGT Group Foundation purchased a new position in Ameresco during the 2nd quarter worth $20,325,000. Redwood Grove Capital LLC grew its position in Ameresco by 41.9% during the 3rd quarter. Redwood Grove Capital LLC now owns 499,890 shares of the utilities provider’s stock worth $18,966,000 after purchasing an additional 147,642 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Ameresco in the second quarter valued at about $10,821,000. 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.