Ameresco (NYSE:AMRC) Sees Large Volume Increase – Time to Buy?

Shares of Ameresco, Inc. (NYSE:AMRC) saw strong trading volume on Monday . 624,555 shares were traded during mid-day trading, an increase of 32% from the previous session’s volume of 473,863 shares.The stock last traded at $11.54 and had previously closed at $11.80.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMRC. StockNews.com raised shares of Ameresco to a “sell” rating in a research note on Tuesday, November 12th. Robert W. Baird reduced their price objective on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday. Canaccord Genuity Group decreased their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research note on Friday. UBS Group decreased their target price on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus raised their price target on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.33.

Ameresco Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The firm’s 50 day simple moving average is $22.06 and its 200 day simple moving average is $27.51. The company has a market capitalization of $551.70 million, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.49 and a beta of 1.79.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The firm had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. As a group, research analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the sale, the director now directly owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Ameresco by 100.3% during the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 391 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Ameresco by 1,294.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,279 shares during the last quarter. FMR LLC increased its holdings in shares of Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after buying an additional 3,855 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Ameresco in the fourth quarter valued at approximately $146,000. Finally, Cetera Trust Company N.A lifted its stake in shares of Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 440 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

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.