Ameresco (NYSE:AMRC) Shares Up 2.5% – Here’s What Happened

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

Analyst Upgrades and Downgrades

AMRC has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Robert W. Baird decreased their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. UBS Group cut shares of Ameresco from a “buy” rating to a “sell” rating and dropped their price target for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ameresco presently has an average rating of “Moderate Buy” and an average target price of $27.63.

Ameresco Stock Up 1.0 %

The stock has a 50-day moving average of $16.73 and a 200 day moving average of $25.00. The company has a market capitalization of $652.40 million, a PE ratio of 12.42, a P/E/G ratio of 0.49 and a beta of 2.07. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

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

Insider Transactions at Ameresco

In other Ameresco news, CEO George P. Sakellaris acquired 50,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $9.96 per share, with a total value of $498,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 903,638 shares in the company, valued at $9,000,234.48. This trade represents a 5.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $9.67 per share, with a total value of $33,845.00. Following the transaction, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. 42.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameresco

Several institutional investors have recently made changes to their positions in AMRC. Intech Investment Management LLC bought a new stake in shares of Ameresco during the 3rd quarter valued at $359,000. Dynamic Technology Lab Private Ltd grew its holdings in Ameresco by 57.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 14,718 shares of the utilities provider’s stock valued at $558,000 after buying an additional 5,370 shares in the last quarter. FMR LLC increased its position in shares of Ameresco by 257.9% during the third quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after buying an additional 3,855 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Ameresco by 17.4% in the third quarter. BNP Paribas Financial Markets now owns 85,772 shares of the utilities provider’s stock worth $3,254,000 after buying an additional 12,688 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Ameresco by 9.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,594 shares of the utilities provider’s stock valued at $1,502,000 after acquiring an additional 3,258 shares during the period. Hedge funds and other 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.