Ameresco (NYSE:AMRC) Shares Up 10.3% - Here's Why

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price was up 10.3% during trading on Tuesday . The company traded as high as $9.54 and last traded at $9.56. Approximately 71,677 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 497,770 shares. The stock had previously closed at $8.66.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMRC. Baird R W lowered Ameresco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Stifel Nicolaus reduced their target price on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Robert W. Baird reissued a "neutral" rating and set a $13.00 price target (down from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. UBS Group lowered 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. Finally, Canaccord Genuity Group lowered their price target on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $24.86.

Ameresco Stock Performance

The firm has a market cap of $513.01 million, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02. The stock's 50 day moving average is $12.70 and its 200 day moving average is $21.77. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. Analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insider Transactions at Ameresco

In other Ameresco news, CEO George P. Sakellaris acquired 50,000 shares of Ameresco stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $9.96 per share, for a total transaction of $498,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 903,638 shares of the company's stock, valued at $9,000,234.48. This represents a 5.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the acquisition, the director now directly owns 17,738 shares of the company's stock, valued at approximately $171,526.46. This represents a 24.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. 42.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameresco

Institutional investors have recently added to or reduced their stakes in the stock. Cetera Trust Company N.A boosted its position in Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock worth $160,000 after purchasing an additional 440 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ameresco by 1.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider's stock valued at $977,000 after acquiring an additional 747 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ameresco by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider's stock worth $2,389,000 after acquiring an additional 859 shares during the period. MetLife Investment Management LLC raised its stake in shares of Ameresco by 10.4% during the 4th quarter. MetLife Investment Management LLC now owns 20,535 shares of the utilities provider's stock valued at $482,000 after purchasing an additional 1,930 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Ameresco by 6.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,273 shares of the utilities provider's stock worth $711,000 after purchasing an additional 1,967 shares during the period. 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.

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