Ameresco (NYSE:AMRC) Trading 3.9% Higher After Analyst Upgrade

Shares of Ameresco, Inc. (NYSE:AMRC) shot up 3.9% on Thursday after UBS Group raised their price target on the stock from $39.00 to $40.00. UBS Group currently has a buy rating on the stock. Ameresco traded as high as $30.57 and last traded at $30.43. 15,985 shares traded hands during trading, a decline of 97% from the average session volume of 502,199 shares. The stock had previously closed at $29.29.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Ameresco in a research note on Tuesday, August 27th. Stifel Nicolaus reduced their price target on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Jefferies Financial Group assumed coverage on shares of Ameresco in a research note on Wednesday. They issued a “hold” rating and a $33.00 price objective for the company. StockNews.com raised Ameresco to a “sell” rating in a research report on Saturday, August 17th. Finally, B. Riley raised shares of Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ameresco has a consensus rating of “Moderate Buy” and an average price target of $37.69.

Insider Buying and Selling

In related news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 owns 1,878 shares in the company, valued at approximately $49,823.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 42.00% of the stock is currently owned by company insiders.

Institutional Trading of Ameresco

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Ameresco by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,374 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 489 shares during the period. Bridge City Capital LLC boosted its position in Ameresco by 0.8% during the first quarter. Bridge City Capital LLC now owns 79,871 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 622 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Ameresco by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,318 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 752 shares during the last quarter. Otter Creek Advisors LLC increased its position in shares of Ameresco by 1.2% in the fourth quarter. Otter Creek Advisors LLC now owns 68,816 shares of the utilities provider’s stock valued at $2,181,000 after buying an additional 818 shares in the last quarter. Finally, Clean Yield Group raised its stake in shares of Ameresco by 0.6% during the 2nd quarter. Clean Yield Group now owns 170,007 shares of the utilities provider’s stock worth $4,898,000 after buying an additional 1,087 shares during the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Stock Up 3.2 %

The firm has a market capitalization of $1.58 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.78. The firm’s 50-day moving average is $29.34 and its 200 day moving average is $26.82. 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 data on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The company had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, research analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal 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.