Ameresco (NYSE:AMRC) Shares Gap Up on Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC) shares gapped up before the market opened on Monday after Robert W. Baird raised their price target on the stock from $32.00 to $42.00. The stock had previously closed at $36.07, but opened at $38.70. Robert W. Baird currently has an outperform rating on the stock. Ameresco shares last traded at $38.12, with a volume of 27,852 shares changing hands.

AMRC has been the topic of a number of other research reports. UBS Group upped their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Jefferies Financial Group began coverage on Ameresco in a research report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price on the stock. Piper Sandler reduced their target price on Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. B. Riley upgraded Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, StockNews.com raised Ameresco to a “sell” rating in a report on Saturday, August 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.46.

Insider Buying and Selling at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the sale, the chief financial officer now directly owns 1,878 shares of the company’s stock, valued at $49,823.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 5,221 shares of company stock valued at $140,814. 42.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently modified their holdings of the business. Natixis purchased a new stake in Ameresco in the 1st quarter worth $480,000. Harbor Capital Advisors Inc. increased its stake in shares of Ameresco by 187.8% during the second quarter. Harbor Capital Advisors Inc. now owns 68,787 shares of the utilities provider’s stock worth $1,982,000 after purchasing an additional 44,882 shares in the last quarter. Swedbank AB acquired a new position in shares of Ameresco during the 1st quarter worth about $12,065,000. Connors Investor Services Inc. lifted its stake in Ameresco by 35.4% in the 1st quarter. Connors Investor Services Inc. now owns 142,915 shares of the utilities provider’s stock valued at $3,449,000 after buying an additional 37,368 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Ameresco in the 1st quarter worth about $1,009,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Trading Up 5.7 %

The company has a 50 day simple moving average of $30.61 and a 200 day simple moving average of $27.97. The company has a market capitalization of $2.00 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.78. 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) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to analysts’ expectations of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Analysts anticipate that Ameresco, Inc. will post 1.16 earnings per share for the current year.

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.