Ameresco (NYSE:AMRC) Stock Price Up 2.5% – What’s Next?

Ameresco, Inc. (NYSE:AMRC) shot up 2.5% during mid-day trading on Friday . The company traded as high as $12.52 and last traded at $12.61. 120,166 shares changed hands during trading, a decline of 75% from the average session volume of 482,297 shares. The stock had previously closed at $12.30.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMRC. Canaccord Genuity Group cut their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus reduced their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. UBS Group cut Ameresco from a “buy” rating to a “sell” rating and lowered their price objective for the company from $37.00 to $8.00 in a research note on Tuesday, March 4th. Finally, Robert W. Baird dropped their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.63.

Ameresco Price Performance

The firm has a 50 day moving average price of $16.95 and a 200 day moving average price of $25.17. The stock has a market capitalization of $652.40 million, a PE ratio of 12.42, 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.

Ameresco (NYSE:AMRC) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $524.31 million. Research analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insiders Place Their Bets

In other Ameresco news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the transaction, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. The trade was a 24.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer L. Miller sold 40,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the transaction, the director now directly owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. 42.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameresco

A number of hedge funds and other institutional investors have recently modified their holdings of AMRC. Vanguard Group Inc. boosted its holdings in shares of Ameresco by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock valued at $74,767,000 after purchasing an additional 37,359 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ameresco by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock worth $27,230,000 after buying an additional 214,918 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock valued at $38,126,000 after buying an additional 450,571 shares during the last quarter. First Trust Advisors LP increased its stake in Ameresco by 124.4% in the 4th quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after acquiring an additional 464,737 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Ameresco by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 758,952 shares of the utilities provider’s stock worth $17,825,000 after acquiring an additional 4,177 shares during the last quarter. Institutional investors own 99.24% of the company’s stock.

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.