Ameresco (NYSE:AMRC) Trading Up 8% on Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC) was up 8% on Tuesday after UBS Group raised their price target on the stock from $8.00 to $11.00. UBS Group currently has a sell rating on the stock. Ameresco traded as high as $14.68 and last traded at $14.61. Approximately 78,726 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 503,739 shares. The stock had previously closed at $13.53.

A number of other brokerages have also weighed in on AMRC. Baird R W lowered Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Stifel Nicolaus decreased their target price on Ameresco from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Canaccord Genuity Group upped their target price on Ameresco from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Piper Sandler set a $21.00 target price on Ameresco and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Robert W. Baird restated a “neutral” rating and issued a $13.00 target price (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 assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.67.

Insider Activity at Ameresco

In related news, CEO George P. Sakellaris bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the acquisition, the chief executive officer now directly owns 978,638 shares of the company’s stock, valued at $9,071,974.26. The trade was a 2.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 27,308 shares of company stock worth $253,429 in the last ninety days. 42.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ameresco

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Ameresco during the 1st quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in Ameresco by 132.0% during the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider’s stock valued at $97,000 after acquiring an additional 4,557 shares during the period. AlphaQuest LLC purchased a new stake in Ameresco during the 1st quarter valued at about $114,000. Advisors Asset Management Inc. boosted its holdings in Ameresco by 57.4% during the 1st quarter. Advisors Asset Management Inc. now owns 9,744 shares of the utilities provider’s stock valued at $118,000 after acquiring an additional 3,554 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Ameresco during the 1st quarter valued at about $121,000. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Price Performance

The company has a market capitalization of $804.40 million, a PE ratio of 15.31, a PEG ratio of 0.49 and a beta of 2.20. The firm has a fifty day moving average of $12.03 and a two-hundred day moving average of $17.89. 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) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business had revenue of $352.83 million during the quarter, compared to analysts’ expectations of $323.71 million. During the same quarter last year, the business posted ($0.10) EPS. The business’s revenue was up 18.2% on a year-over-year basis. Research analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal 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.