Ameresco, Inc. (NYSE:AMRC – Get Rating) shares shot up 6.4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $63.55 and last traded at $61.50. 3,042 shares were traded during mid-day trading, a decline of 99% from the average session volume of 320,228 shares. The stock had previously closed at $57.81.
The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. Ameresco had a return on equity of 12.44% and a net margin of 5.33%. During the same period last year, the firm posted $0.34 earnings per share.
Analysts Set New Price Targets
Several brokerages recently weighed in on AMRC. Canaccord Genuity Group cut their price target on Ameresco from $85.00 to $62.00 in a research note on Tuesday, May 3rd. Robert W. Baird cut their price objective on Ameresco from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, May 3rd. Raymond James lowered their target price on Ameresco from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, July 12th. Guggenheim set a $58.00 target price on Ameresco in a report on Monday, June 20th. Finally, Craig Hallum decreased their price objective on Ameresco from $95.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.85.
Institutional Trading of Ameresco
Large investors have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in Ameresco by 12.5% in the fourth quarter. Citigroup Inc. now owns 14,282 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 1,587 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Ameresco by 1.1% in the fourth quarter. Baird Financial Group Inc. now owns 86,472 shares of the utilities provider’s stock valued at $7,042,000 after buying an additional 951 shares during the last quarter. Connors Investor Services Inc. increased its holdings in Ameresco by 4.4% in the fourth quarter. Connors Investor Services Inc. now owns 73,287 shares of the utilities provider’s stock valued at $5,968,000 after buying an additional 3,101 shares during the last quarter. Sumitomo Life Insurance Co. purchased a new position in Ameresco in the fourth quarter valued at $611,000. Finally, Jag Capital Management LLC acquired a new position in Ameresco in the fourth quarter valued at $210,000. Hedge funds and other institutional investors own 51.21% of the company’s stock.
Ameresco Stock Up 7.1 %
The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 1.22 and a beta of 1.22. The firm’s 50 day moving average price is $49.74 and its two-hundred day moving average price is $56.71. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.14 and a quick ratio of 2.11.
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, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.