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

Ameresco, Inc. (NYSE:AMRC) shares shot up 6.6% during mid-day trading on Thursday . The stock traded as high as $24.96 and last traded at $24.89. 107,168 shares were traded during trading, a decline of 65% from the average session volume of 305,697 shares. The stock had previously closed at $23.35.

Analyst Upgrades and Downgrades

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

Ameresco Price Performance

The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1.21 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 0.68 and a beta of 1.79. The stock has a 50 day moving average of $25.68 and a 200-day moving average of $29.46.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased 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 purchasing an additional 450,571 shares during the period. Stifel Financial Corp increased its holdings in shares of Ameresco by 35.1% in the third quarter. Stifel Financial Corp now owns 118,277 shares of the utilities provider’s stock valued at $4,487,000 after purchasing an additional 30,718 shares during the period. Barclays PLC increased its holdings in shares of Ameresco by 204.2% in the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock valued at $2,248,000 after purchasing an additional 39,773 shares during the period. Clayton Partners LLC increased its holdings in shares of Ameresco by 117.8% in the second quarter. Clayton Partners LLC now owns 77,735 shares of the utilities provider’s stock valued at $2,240,000 after purchasing an additional 42,052 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Ameresco by 1.4% in the third quarter. Geode Capital Management LLC now owns 754,775 shares of the utilities provider’s stock valued at $28,642,000 after purchasing an additional 10,197 shares during the period. 99.24% of the stock is owned by 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.