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

Ameresco, Inc. (NYSE:AMRC)’s stock price 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.

A number of other analysts have also recently commented on AMRC. Piper Sandler reduced their price objective on Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group initiated coverage on shares of Ameresco in a research report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price target on the stock. UBS Group upped their price objective on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Saturday, August 17th. Finally, B. Riley raised Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ameresco currently has an average 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 firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total value of $132,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,221 shares of company stock worth $140,814 over the last ninety days. Company insiders own 42.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Ameresco in the 4th quarter worth $62,000. nVerses Capital LLC purchased a new position in Ameresco during the 2nd quarter valued at about $75,000. Point72 DIFC Ltd bought a new stake in shares of Ameresco in the 2nd quarter valued at about $86,000. GAMMA Investing LLC raised its holdings in shares of Ameresco by 1,215.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Ameresco in the 2nd quarter worth approximately $156,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Trading Up 5.7 %

The stock has a market capitalization of $2.00 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.15 and a beta of 1.78. The stock’s 50 day moving average price is $30.61 and its 200-day moving average price is $27.97. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The company had revenue of $437.98 million for the quarter, compared to the consensus estimate of $373.75 million. Ameresco had a net margin of 3.77% and a return on equity of 6.25%. Ameresco’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities research analysts expect that Ameresco, Inc. will post 1.16 earnings per share for the current year.

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.