Ameresco (NYSE:AMRC) Trading Up 6.9%

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) shot up 6.9% during mid-day trading on Tuesday . The stock traded as high as $20.46 and last traded at $20.41. 38,009 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 534,810 shares. The stock had previously closed at $19.09.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMRC. Oppenheimer reaffirmed a "market perform" rating on shares of Ameresco in a report on Wednesday, April 17th. B. Riley reduced their price objective on Ameresco from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Piper Sandler reduced their price objective on Ameresco from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, April 11th. Truist Financial reduced their price objective on Ameresco from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group reduced their price objective on Ameresco from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Ameresco currently has an average rating of "Moderate Buy" and an average target price of $44.69.

Ameresco Stock Up 9.3 %

The company has a debt-to-equity ratio of 1.26, a current ratio of 1.25 and a quick ratio of 1.24. The stock has a market cap of $1.09 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The business has a fifty day moving average of $21.24 and a 200-day moving average of $25.63.

Ameresco (NYSE:AMRC - Get Free Report) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. The company had revenue of $441.40 million during the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. Ameresco's revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts anticipate that Ameresco, Inc. will post 1.39 earnings per share for the current year.

Institutional Trading of Ameresco

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Ameresco by 17.8% during the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider's stock worth $45,083,000 after purchasing an additional 176,971 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Ameresco by 32.6% during the third quarter. First Eagle Investment Management LLC now owns 284,617 shares of the utilities provider's stock worth $10,975,000 after purchasing an additional 69,997 shares in the last quarter. Boston Partners acquired a new position in shares of Ameresco during the third quarter worth $2,143,000. Deutsche Bank AG increased its position in shares of Ameresco by 16.6% during the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider's stock worth $658,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Ameresco by 20.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 292,411 shares of the utilities provider's stock worth $11,275,000 after purchasing an additional 48,737 shares in the last quarter. Hedge funds and other 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.