Ameresco (NYSE:AMRC) Shares Gap Up After Earnings Beat

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.63, but opened at $14.00. Ameresco shares last traded at $13.60, with a volume of 422,022 shares traded.

The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.11. The firm had revenue of $352.83 million during the quarter, compared to analyst estimates of $323.71 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The business's revenue was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) EPS.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMRC shares. Piper Sandler set a $21.00 price target on shares of Ameresco and gave the stock an "overweight" rating in a report on Tuesday. Canaccord Genuity Group upped their price objective on shares of Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday. Baird R W downgraded shares of Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird restated a "neutral" rating and issued a $13.00 price objective (down from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. Finally, UBS Group downgraded shares of Ameresco from a "buy" rating to a "sell" rating and cut their price target for the company from $37.00 to $8.00 in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameresco has an average rating of "Hold" and a consensus target price of $20.33.

Insider Buying and Selling

In related news, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now owns 17,738 shares of the company's stock, valued at $171,526.46. This represents a 24.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George P. Sakellaris bought 25,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief executive officer now owns 978,638 shares in the company, valued at approximately $9,071,974.26. The trade was a 2.62 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 80,808 shares of company stock valued at $785,274 over the last ninety days. Company insiders own 42.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Ameresco by 132.0% in the first quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock worth $97,000 after acquiring an additional 4,557 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Ameresco during the fourth quarter valued at approximately $146,000. Cetera Trust Company N.A lifted its position in shares of Ameresco by 6.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock worth $160,000 after purchasing an additional 440 shares during the period. Lazard Asset Management LLC grew its stake in Ameresco by 145.0% in the fourth quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock valued at $172,000 after purchasing an additional 4,362 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ameresco in the 1st quarter worth $180,000. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Trading Up 16.8 %

The stock has a market cap of $713.87 million, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20. The stock has a 50-day moving average of $11.04 and a 200 day moving average of $20.16. 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 Company Profile

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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