Ameresco (NYSE:AMRC) Shares Up 7.5% – Here’s Why

by · The Cerbat Gem

Shares of Ameresco, Inc. (NYSE:AMRC – Get Free Report) were up 7.5% during trading on Monday . The company traded as high as $33.10 and last traded at $32.79. Approximately 49,953 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 472,554 shares. The stock had previously closed at $30.51.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMRC. Jefferies Financial Group assumed coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price objective on the stock. Piper Sandler boosted their price target on Ameresco from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. UBS Group increased their price target on Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.73.

Read Our Latest Stock Report on Ameresco

Ameresco Stock Down 5.0 %

The stock’s fifty day simple moving average is $32.97 and its 200-day simple moving average is $30.32. The stock has a market cap of $1.58 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.21 and a beta of 1.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01.

Ameresco (NYSE:AMRC – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). The company had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The company’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. As a group, research analysts forecast that Ameresco, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the sale, the chief financial officer now owns 1,878 shares of the company’s stock, valued at $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 5,221 shares of company stock worth $140,814. Company insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of institutional investors have recently modified their holdings of AMRC. Blue Trust Inc. raised its stake in Ameresco by 100.3% during 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 in the last quarter. nVerses Capital LLC acquired a new position in Ameresco during the 2nd quarter worth approximately $75,000. Point72 DIFC Ltd bought a new position in Ameresco in the 2nd quarter valued at approximately $86,000. GAMMA Investing LLC boosted its position in Ameresco by 1,215.2% in the second 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ameresco during the second quarter worth $156,000. Institutional investors and hedge funds own 99.24% of the company’s stock.

About Ameresco

(Get Free Report)

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.

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