Ameresco (NYSE:AMRC) Stock Price Up 7.1% - Here's Why

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) traded up 7.1% during trading on Thursday . The stock traded as high as $15.85 and last traded at $15.86. 61,428 shares changed hands during trading, a decline of 90% from the average session volume of 638,279 shares. The stock had previously closed at $14.81.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMRC. Piper Sandler set a $21.00 target price on shares of Ameresco and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised Ameresco from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Canaccord Genuity Group boosted their target price on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, UBS Group reiterated a "sell" rating and issued a $11.00 price target on shares of Ameresco in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Ameresco Trading Down 2.6%

The firm has a fifty day simple moving average of $13.78 and a 200-day simple moving average of $16.36. The firm has a market cap of $796.03 million, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.72 and a beta of 2.24. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.57 and a quick ratio of 1.56.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $323.71 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The company's quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMRC. First Trust Advisors LP lifted its holdings in shares of Ameresco by 124.4% in the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider's stock valued at $19,682,000 after purchasing an additional 464,737 shares in the last quarter. Bandera Partners LLC lifted its holdings in shares of Ameresco by 125.2% in the first quarter. Bandera Partners LLC now owns 734,355 shares of the utilities provider's stock valued at $8,871,000 after purchasing an additional 408,257 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Ameresco by 3,822.9% in the first quarter. Granahan Investment Management LLC now owns 416,496 shares of the utilities provider's stock valued at $5,031,000 after purchasing an additional 405,879 shares in the last quarter. Gagnon Securities LLC lifted its holdings in shares of Ameresco by 69.6% in the first quarter. Gagnon Securities LLC now owns 968,528 shares of the utilities provider's stock valued at $11,700,000 after purchasing an additional 397,326 shares in the last quarter. Finally, CenterBook Partners LP bought a new position in shares of Ameresco in the first quarter valued at approximately $3,850,000. Institutional investors own 99.24% 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, 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.