Ameresco (NYSE:AMRC) Shares Up 10.2% - Here's What Happened

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price shot up 10.2% during mid-day trading on Wednesday . The company traded as high as $10.29 and last traded at $10.56. 103,705 shares were traded during trading, a decline of 84% from the average session volume of 651,568 shares. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on Ameresco from $36.00 to $27.00 and set a "buy" rating for the company in a report on Friday, February 28th. Baird R W cut Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Stifel Nicolaus cut their price objective on shares of Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. UBS Group lowered shares of Ameresco from a "buy" rating to a "sell" rating and decreased their target price for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $13.00 price target (down from $25.00) on shares of Ameresco in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ameresco currently has a consensus rating of "Hold" and a consensus price target of $24.86.

Ameresco Stock Performance

The stock has a market capitalization of $527.72 million, a PE ratio of 10.04, a P/E/G ratio of 0.49 and a beta of 2.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a 50 day moving average of $12.91 and a 200-day moving average of $22.04.

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

Insider Activity

In other news, CEO George P. Sakellaris purchased 50,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was bought 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 approximately $9,000,234.48. The trade was a 5.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $9.67 per share, with a total value of $33,845.00. Following the transaction, the director now directly owns 17,738 shares in the company, valued at $171,526.46. The trade was a 24.58 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 80,808 shares of company stock valued at $785,274 and have sold 40,085 shares valued at $843,378. 42.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Ameresco during the first quarter worth about $1,043,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Ameresco in the 1st quarter worth approximately $250,000. Harbor Capital Advisors Inc. lifted its position in shares of Ameresco by 731.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider's stock worth $2,787,000 after buying an additional 202,970 shares during the period. Clean Yield Group boosted its stake in Ameresco by 6.3% in the 1st quarter. Clean Yield Group now owns 112,746 shares of the utilities provider's stock valued at $1,362,000 after buying an additional 6,718 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors bought a new stake in Ameresco in the first quarter valued at $211,000. 99.24% of the stock is currently owned by institutional investors.

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.