Ameresco (NYSE:AMRC) Shares Gap Up After Insider Buying Activity

Ameresco, Inc. (NYSE:AMRC)’s share price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $9.29, but opened at $10.11. Ameresco shares last traded at $10.46, with a volume of 232,008 shares trading hands.

Specifically, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the acquisition, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. The trade was a 24.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George P. Sakellaris acquired 25,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief executive officer now directly owns 978,638 shares of the company’s stock, valued at $9,071,974.26. This trade represents a 2.62 % increase in their position. The disclosure for this purchase can be found here. In other Ameresco news, CEO George P. Sakellaris bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $9.96 per share, for a total transaction of $498,000.00. Following the purchase, the chief executive officer now directly owns 903,638 shares in the company, valued at $9,000,234.48. This trade represents a 5.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMRC shares. Robert W. Baird cut their price target on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Stifel Nicolaus cut their target price on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday. Canaccord Genuity Group decreased their price target on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. UBS Group lowered shares of Ameresco from a “buy” rating to a “sell” rating and cut their price objective for the company from $37.00 to $8.00 in a research report on Tuesday. Finally, StockNews.com raised Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Ameresco Price Performance

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The company has a 50-day moving average price of $21.26 and a 200-day moving average price of $27.14. The firm has a market capitalization of $567.22 million, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07.

Ameresco (NYSE:AMRC) last issued its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. On average, sell-side analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Ameresco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Ameresco by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock valued at $74,767,000 after purchasing an additional 37,359 shares during the period. Dimensional Fund Advisors LP raised its position in Ameresco by 22.7% in 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 buying an additional 214,918 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Ameresco by 81.3% during the third quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after purchasing an additional 450,571 shares during the last quarter. First Trust Advisors LP lifted its position in Ameresco by 124.4% during the 4th quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after buying an additional 464,737 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ameresco by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 758,952 shares of the utilities provider’s stock valued at $17,825,000 after acquiring an additional 4,177 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.