Ameresco (NYSE:AMRC) Stock Price Up 8% After Analyst Upgrade

Ameresco, Inc. (NYSE:AMRC - Get Free Report) was up 8% on Tuesday after Canaccord Genuity Group raised their price target on the stock from $27.00 to $29.00. Canaccord Genuity Group currently has a buy rating on the stock. Ameresco traded as high as $14.68 and last traded at $14.61. Approximately 78,726 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 503,739 shares. The stock had previously closed at $13.53.

AMRC has been the topic of several other reports. Baird R W lowered Ameresco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Stifel Nicolaus dropped their target price on Ameresco from $34.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. UBS Group lowered Ameresco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $13.00 target price (down from $25.00) on shares of Ameresco in a research report on Tuesday, April 15th. Two investment 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 MarketBeat.com, Ameresco has an average rating of "Hold" and an average target price of $20.17.

Insider Activity at Ameresco

In other news, CEO George P. Sakellaris bought 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the acquisition, the chief executive officer now directly owns 978,638 shares in the company, valued at approximately $9,071,974.26. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 27,308 shares of company stock worth $253,429 over the last ninety days. Insiders own 42.00% of the company's stock.

Institutional Investors Weigh In On Ameresco

Large investors have recently made changes to their positions in the business. First Eagle Investment Management LLC increased its position in shares of Ameresco by 87.7% during the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider's stock valued at $9,888,000 after purchasing an additional 196,776 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ameresco by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider's stock valued at $74,767,000 after purchasing an additional 37,359 shares during the last quarter. Barclays PLC lifted its holdings in Ameresco by 204.2% during the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider's stock valued at $2,248,000 after purchasing an additional 39,773 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Ameresco by 96.8% during the fourth quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider's stock valued at $1,060,000 after purchasing an additional 22,197 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Ameresco by 29.8% during the fourth quarter. Invesco Ltd. now owns 321,982 shares of the utilities provider's stock valued at $7,560,000 after purchasing an additional 73,928 shares during the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Stock Performance

The firm has a market capitalization of $776.56 million, a PE ratio of 14.78, a P/E/G ratio of 0.49 and a beta of 2.20. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The company's fifty day simple moving average is $12.03 and its 200 day simple moving average is $17.89.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm's revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts expect that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

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.