Ameresco, Inc. (NYSE:AMRC) Shares Purchased by Gagnon Advisors LLC

Key Points

• Gagnon Advisors LLC increased its stake in Ameresco, Inc. by 73.4% in the first quarter, now owning 472,798 shares valued at approximately $5.71 million.
• Ameresco reported a substantial earnings beat with $0.27 EPS for the quarter, significantly exceeding analysts' expectations of $0.06 and showcasing a 7.8% increase in revenue year-over-year.
• Despite positive earnings results, brokerages have downgraded the stock's ratings, with the average consensus price target set at $18.33 amidst a market capitalization of $1.05 billion.

Gagnon Advisors LLC raised its stake in Ameresco, Inc. (NYSE:AMRC - Free Report) by 73.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 472,798 shares of the utilities provider's stock after purchasing an additional 200,104 shares during the quarter. Ameresco comprises about 4.0% of Gagnon Advisors LLC's investment portfolio, making the stock its 12th biggest position. Gagnon Advisors LLC owned 0.90% of Ameresco worth $5,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Ameresco in the first quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings in Ameresco by 132.0% in the first quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 4,557 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Ameresco in the fourth quarter valued at about $146,000. JCP Investment Management LLC boosted its holdings in Ameresco by 55.6% in the first quarter. JCP Investment Management LLC now owns 14,000 shares of the utilities provider's stock valued at $169,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings 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. Hedge funds and other institutional investors own 99.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMRC. Canaccord Genuity Group increased their price target on Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus reduced their target price on Ameresco from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Wall Street Zen downgraded Ameresco from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Baird R W downgraded Ameresco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, UBS Group reaffirmed a "sell" rating and set a $11.00 target price on shares of Ameresco in a report on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $18.33.

Ameresco Stock Performance

Shares of NYSE AMRC traded up $0.16 during mid-day trading on Friday, hitting $20.17. The company had a trading volume of 623,701 shares, compared to its average volume of 1,033,728. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.00 and a beta of 2.27. Ameresco, Inc. has a 12 month low of $8.49 and a 12 month high of $39.68. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.56 and a quick ratio of 1.56. The firm's 50 day simple moving average is $16.93 and its two-hundred day simple moving average is $15.09.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $472.28 million for the quarter, compared to the consensus estimate of $415.30 million. Ameresco had a return on equity of 7.00% and a net margin of 3.34%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. As a group, equities research analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current 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.