Ameresco (NYSE:AMRC) Stock Price Up 4.4%

Ameresco, Inc. (NYSE:AMRCGet Free Report) shares shot up 4.4% on Monday . The stock traded as high as $28.49 and last traded at $28.48. 11,600 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 519,907 shares. The stock had previously closed at $27.29.

Analysts Set New Price Targets

AMRC has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Robert W. Baird increased their price target on Ameresco from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Piper Sandler dropped their price target on Ameresco from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. B. Riley upgraded Ameresco to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, StockNews.com raised Ameresco to a “sell” rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.31.

Check Out Our Latest Analysis on AMRC

Ameresco Stock Performance

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 0.79 and a beta of 1.78. The stock’s 50 day moving average price is $30.16 and its 200 day moving average price is $25.59. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09.

Ameresco (NYSE:AMRCGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $298.41 million during the quarter, compared to the consensus estimate of $255.38 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Analysts expect that Ameresco, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Mark Chiplock sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the sale, the chief accounting officer now directly owns 348 shares of the company’s stock, valued at approximately $12,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 42.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. DNB Asset Management AS lifted its holdings in Ameresco by 10.8% during the 2nd quarter. DNB Asset Management AS now owns 292,764 shares of the utilities provider’s stock valued at $8,432,000 after purchasing an additional 28,648 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Ameresco by 1,215.2% in the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 2,880 shares during the period. Clean Yield Group lifted its stake in shares of Ameresco by 65.3% during the 1st quarter. Clean Yield Group now owns 168,920 shares of the utilities provider’s stock worth $4,076,000 after buying an additional 66,706 shares during the last quarter. Invst LLC bought a new stake in shares of Ameresco during the 1st quarter worth about $225,000. Finally, Redwood Grove Capital LLC acquired a new position in Ameresco in the 1st quarter valued at about $7,170,000. 99.24% of the stock is owned by institutional investors and hedge funds.

About Ameresco

(Get Free Report)

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.

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