Ameresco (NYSE:AMRC) Stock Price Up 5.8% - Here's What Happened

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) rose 5.8% during mid-day trading on Monday . The company traded as high as $11.00 and last traded at $11.15. Approximately 29,830 shares were traded during trading, a decline of 93% from the average daily volume of 458,742 shares. The stock had previously closed at $10.54.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of Ameresco from $42.00 to $25.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus lowered their price target on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. UBS Group downgraded Ameresco from a "buy" rating to a "sell" rating and cut their price objective for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lowered 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ameresco has a consensus rating of "Moderate Buy" and an average target price of $27.63.

Ameresco Price Performance

The stock has a 50-day moving average of $18.10 and a two-hundred day moving average of $25.77. The firm has a market cap of $706.52 million, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.

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Ameresco (NYSE:AMRC - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate 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 net margin of 3.18% and a return on equity of 5.68%. On average, analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Buying and Selling at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the sale, the director now directly owns 17,225 shares of the company's stock, valued at $362,758.50. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George P. Sakellaris purchased 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price 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. This trade represents a 5.86 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 80,808 shares of company stock valued at $785,274 and have sold 40,085 shares valued at $843,378. Company insiders own 42.00% of the company's stock.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently modified their holdings of AMRC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ameresco by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,684 shares of the utilities provider's stock valued at $2,106,000 after purchasing an additional 13,127 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Ameresco by 7.0% during the 4th quarter. Voloridge Investment Management LLC now owns 301,861 shares of the utilities provider's stock worth $7,088,000 after purchasing an additional 19,626 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Ameresco by 27.2% during the 4th quarter. Squarepoint Ops LLC now owns 71,891 shares of the utilities provider's stock valued at $1,688,000 after buying an additional 15,388 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Ameresco in the 4th quarter valued at approximately $398,000. Finally, Silvercrest Asset Management Group LLC increased its holdings in Ameresco by 41.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 241,761 shares of the utilities provider's stock worth $5,677,000 after buying an additional 71,236 shares during the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.

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.