Ameresco (NYSE:AMRC) Shares Up 10.2% - Here's What Happened

Ameresco, Inc. (NYSE:AMRC - Get Free Report)'s stock price was up 10.2% during trading on Tuesday . The company traded as high as $19.54 and last traded at $19.66. Approximately 530,009 shares traded hands during trading, an increase of 1% from the average daily volume of 524,000 shares. The stock had previously closed at $17.83.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price target on Ameresco from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Baird R W downgraded shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Wall Street Zen cut shares of Ameresco from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Stifel Nicolaus cut their price objective on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, UBS Group restated a "sell" rating and set a $11.00 target price on shares of Ameresco in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ameresco has an average rating of "Hold" and an average target price of $18.33.

Ameresco Stock Performance

The company has a market cap of $951.50 million, a PE ratio of 17.76, a P/E/G ratio of 0.89 and a beta of 2.22. The stock's 50 day simple moving average is $16.00 and its two-hundred day simple moving average is $15.55. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.50.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.15. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. The business had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business's revenue for the quarter was up 18.2% on a year-over-year basis. As a group, research analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently modified their holdings of AMRC. Clean Yield Group raised its holdings in Ameresco by 3.7% in the second quarter. Clean Yield Group now owns 116,906 shares of the utilities provider's stock valued at $1,776,000 after buying an additional 4,160 shares during the period. Vanguard Capital Wealth Advisors increased its position in shares of Ameresco by 105.7% in the second quarter. Vanguard Capital Wealth Advisors now owns 36,000 shares of the utilities provider's stock worth $547,000 after acquiring an additional 18,500 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Ameresco by 31.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 303,254 shares of the utilities provider's stock valued at $4,606,000 after acquiring an additional 72,549 shares during the period. Inspire Investing LLC lifted its holdings in shares of Ameresco by 68.0% during the 1st quarter. Inspire Investing LLC now owns 28,688 shares of the utilities provider's stock valued at $347,000 after acquiring an additional 11,611 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Ameresco during the 1st quarter valued at $1,187,000. 99.24% of the stock is owned by institutional investors and hedge funds.

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.