Ameresco, Inc. (AMRC) Reaches New 52-Week High at $8.50
Ameresco, Inc. (NYSE:AMRC)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $8.50 and last traded at $8.50, with a volume of 223693 shares changing hands. The stock had previously closed at $7.85.
Several equities analysts recently commented on the company. Oppenheimer Holdings, Inc. set a $9.00 price objective on Ameresco and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Ameresco from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Ameresco from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Monday, August 14th. Finally, Canaccord Genuity upped their price objective on Ameresco from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Ameresco has an average rating of “Buy” and an average price target of $8.88.
The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.23 and a current ratio of 1.29. The firm has a market cap of $357.39, a P/E ratio of 22.43, a P/E/G ratio of 3.15 and a beta of 1.12.
Ameresco (NYSE:AMRC) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The firm had revenue of $204.74 million for the quarter, compared to the consensus estimate of $186.20 million. Ameresco had a return on equity of 5.48% and a net margin of 2.49%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. research analysts expect that Ameresco, Inc. will post 0.41 earnings per share for the current year.
In other Ameresco news, insider Joseph P. Demanche sold 7,007 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $8.00, for a total transaction of $56,056.00. Following the sale, the insider now owns 196,625 shares in the company, valued at $1,573,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph P. Demanche sold 4,220 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $7.80, for a total value of $32,916.00. Following the sale, the insider now owns 200,000 shares in the company, valued at approximately $1,560,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,220 shares of company stock worth $112,916. Company insiders own 58.36% of the company’s stock.
Several hedge funds have recently modified their holdings of AMRC. Wellington Management Group LLP raised its position in shares of Ameresco by 491.4% in the first quarter. Wellington Management Group LLP now owns 476,068 shares of the utilities provider’s stock worth $3,118,000 after buying an additional 395,566 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Ameresco in the second quarter worth $2,410,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Ameresco in the second quarter worth $692,000. TIAA FSB purchased a new stake in shares of Ameresco in the third quarter worth $496,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Ameresco by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 850,929 shares of the utilities provider’s stock worth $5,573,000 after buying an additional 60,657 shares in the last quarter. Institutional investors own 23.92% of the company’s stock.
Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.
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