Ameresco (NYSE:AMRC) Shares Gap Up on Insider Buying Activity

Ameresco, Inc. (NYSE:AMRC)’s stock price gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $22.51, but opened at $24.38. Ameresco shares last traded at $25.66, with a volume of 139,393 shares.

Specifically, EVP Nicole E. Bulgarino purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $22.40 per share, with a total value of $336,000.00. Following the completion of the purchase, the executive vice president now directly owns 31,133 shares in the company, valued at $697,379.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $43.54, for a total transaction of $217,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicole E. Bulgarino purchased 15,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average price of $22.40 per share, for a total transaction of $336,000.00. Following the purchase, the executive vice president now owns 31,133 shares in the company, valued at approximately $697,379.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 50,000 shares of company stock worth $1,127,700 and have sold 15,507 shares worth $665,790. Corporate insiders own 41.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMRC. Roth Capital upgraded Ameresco from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 25th. BNP Paribas assumed coverage on shares of Ameresco in a report on Friday, October 20th. They set a “neutral” rating and a $43.00 price target on the stock. Stifel Nicolaus dropped their price objective on shares of Ameresco from $69.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Robert W. Baird boosted their target price on shares of Ameresco from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, Raymond James dropped their price target on Ameresco from $55.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameresco currently has an average rating of “Moderate Buy” and an average price target of $54.85.

Ameresco Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.14. The business’s 50-day simple moving average is $34.14 and its two-hundred day simple moving average is $43.06. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 0.76 and a beta of 1.53.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.07). The firm had revenue of $335.15 million for the quarter, compared to analyst estimates of $385.05 million. Ameresco had a return on equity of 5.59% and a net margin of 3.69%. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. As a group, research analysts expect that Ameresco, Inc. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Ameresco

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Ameresco by 24.8% during the first quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock worth $7,141,000 after acquiring an additional 17,857 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Ameresco by 58.9% in the 1st quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock valued at $1,271,000 after buying an additional 5,927 shares during the period. Rhumbline Advisers increased its position in Ameresco by 6.8% in the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock valued at $2,562,000 after buying an additional 2,055 shares in the last quarter. BlackRock Inc. raised its stake in Ameresco by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock worth $187,241,000 after buying an additional 72,667 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in Ameresco by 5.1% in the first quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock worth $658,000 after acquiring an additional 399 shares in the last quarter. Institutional investors own 61.61% of the company’s stock.

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, and internationally. The company operates through U.S. Regions, U.S. Federal, Canada, and Alternative Fuels segments. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.