Ameresco, Inc. (NYSE:AMRC) Shares Bought by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC significantly increased its holdings in Ameresco, Inc. by 69.6%, now owning 968,528 shares valued at approximately $11.7 million.
• Analyst ratings for Ameresco are mixed, with a consensus rating of "Hold" and an average price target of $18.33, reflecting a range of views on the stock's performance.
• Ameresco reported impressive quarterly earnings, topping estimates with $0.27 earnings per share and a revenue of $472.28 million, indicating a year-over-year revenue increase of 7.8%.

Gagnon Securities LLC raised its holdings in Ameresco, Inc. (NYSE:AMRC - Free Report) by 69.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 968,528 shares of the utilities provider's stock after purchasing an additional 397,326 shares during the period. Ameresco comprises approximately 2.6% of Gagnon Securities LLC's holdings, making the stock its 15th largest holding. Gagnon Securities LLC owned about 1.84% of Ameresco worth $11,700,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Ameresco by 124.4% during the 4th quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider's stock valued at $19,682,000 after acquiring an additional 464,737 shares in the last quarter. Rock Point Advisors LLC raised its position in shares of Ameresco by 97.7% during the 1st quarter. Rock Point Advisors LLC now owns 516,971 shares of the utilities provider's stock valued at $6,245,000 after acquiring an additional 255,538 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ameresco by 22.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider's stock valued at $27,230,000 after acquiring an additional 214,918 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Ameresco by 731.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider's stock valued at $2,787,000 after acquiring an additional 202,970 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Ameresco by 78.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 330,355 shares of the utilities provider's stock valued at $4,043,000 after acquiring an additional 145,420 shares in the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMRC has been the topic of several analyst reports. Piper Sandler set a $21.00 target price on Ameresco and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Baird R W lowered Ameresco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. 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. Jefferies Financial Group increased their target price on Ameresco from $11.00 to $19.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, UBS Group reaffirmed a "sell" rating and issued a $11.00 target price on shares of Ameresco in a research report on Tuesday, June 3rd. Two investment 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $18.33.

Ameresco Stock Down 17.9%

Shares of Ameresco stock opened at $20.43 on Thursday. Ameresco, Inc. has a 1 year low of $8.49 and a 1 year high of $39.68. The stock has a 50-day moving average price of $16.69 and a 200 day moving average price of $15.20. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.50. The company has a market cap of $1.07 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.20 and a beta of 2.27.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. Ameresco had a return on equity of 7.09% and a net margin of 3.34%. The company had revenue of $472.28 million during the quarter, compared to the consensus estimate of $415.30 million. During the same period last year, the business earned $0.10 EPS. The business's quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Ameresco 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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