Ameresco (NYSE:AMRC) Shares Up 7%

Ameresco, Inc. (NYSE:AMRC) shot up 7% on Tuesday . The stock traded as high as $29.55 and last traded at $28.73. 257,964 shares were traded during mid-day trading, a decline of 51% from the average session volume of 531,484 shares. The stock had previously closed at $26.85.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMRC. UBS Group boosted their target price on Ameresco from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Truist Financial reduced their target price on Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded Ameresco to a “sell” rating in a report on Monday, July 1st. Robert W. Baird upped their price target on Ameresco from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, Piper Sandler cut their target price on Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Ameresco Stock Performance

The firm has a 50 day simple moving average of $31.83 and a 200-day simple moving average of $25.83. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.86 and a beta of 1.78.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The business had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. During the same period last year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, analysts predict that Ameresco, Inc. will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Ameresco

In other news, CAO Mark Chiplock sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total transaction of $105,000.00. Following the sale, the chief accounting officer now owns 348 shares of the company’s stock, valued at approximately $12,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ameresco

A number of institutional investors and hedge funds have recently bought and sold shares of AMRC. Vanguard Group Inc. raised its position in shares of Ameresco by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after buying an additional 36,303 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ameresco by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock valued at $28,890,000 after acquiring an additional 110,204 shares during the period. First Trust Advisors LP boosted its stake in Ameresco by 59.9% in the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock valued at $25,128,000 after acquiring an additional 297,236 shares during the period. BNP Paribas Asset Management Holding S.A. bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $22,650,000. Finally, Granahan Investment Management LLC raised its holdings in shares of Ameresco by 0.9% during the fourth quarter. Granahan Investment Management LLC now owns 521,672 shares of the utilities provider’s stock valued at $16,521,000 after buying an additional 4,621 shares during the last quarter. Hedge funds and other institutional investors 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.