Ameresco (NYSE:AMRC) Shares Gap Up Following Insider Buying Activity

Ameresco, Inc. (NYSE:AMRC - Get Free Report) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $9.29, but opened at $10.11. Ameresco shares last traded at $10.46, with a volume of 232,008 shares.

Specifically, Director Francis V. Wisneski, Jr. purchased 3,500 shares of Ameresco stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $9.67 per share, with a total value of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares in the company, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George P. Sakellaris bought 25,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 978,638 shares of the company's stock, valued at approximately $9,071,974.26. This represents a 2.62 % increase in their position. The disclosure for this purchase can be found here. In related news, CEO George P. Sakellaris bought 50,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $9.96 per share, with a total value of $498,000.00. Following the completion of the acquisition, the chief executive officer now owns 903,638 shares of the company's stock, valued at $9,000,234.48. The trade was a 5.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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Analyst Upgrades and Downgrades

Several research firms have commented on AMRC. UBS Group downgraded Ameresco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Canaccord Genuity Group dropped their target price on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus dropped their target price on Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday. Robert W. Baird dropped their target price on Ameresco from $42.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, StockNews.com raised Ameresco to a "sell" rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameresco has an average rating of "Moderate Buy" and a consensus price target of $28.33.

Ameresco Stock Performance

The company has a market cap of $582.75 million, a PE ratio of 11.11, a PEG ratio of 0.49 and a beta of 2.07. 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 50-day moving average of $20.74 and a 200 day moving average of $26.88.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.12. The company had revenue of $532.67 million during the quarter, compared to analysts' expectations of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. Equities research analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Institutional Trading of Ameresco

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Ameresco by 81.3% during 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 last quarter. Stifel Financial Corp increased its position in Ameresco by 35.1% in the third quarter. Stifel Financial Corp now owns 118,277 shares of the utilities provider's stock worth $4,487,000 after buying an additional 30,718 shares in the last quarter. Barclays PLC increased its position in Ameresco by 204.2% in the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider's stock worth $2,248,000 after buying an additional 39,773 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Ameresco in the fourth quarter worth about $259,000. Finally, SG Americas Securities LLC increased its position in Ameresco by 70.7% in the fourth quarter. SG Americas Securities LLC now owns 42,506 shares of the utilities provider's stock worth $998,000 after buying an additional 17,600 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company's stock.

About Ameresco

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.