Ameresco (NYSE:AMRC) Shares Gap Up After Earnings Beat

Ameresco, Inc. (NYSE:AMRC)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $22.24, but opened at $23.80. Ameresco shares last traded at $28.25, with a volume of 383,871 shares.

The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMRC shares. Truist Financial reduced their price target on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Oppenheimer reiterated a “market perform” rating on shares of Ameresco in a report on Wednesday, April 17th. B. Riley decreased their price objective on Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Canaccord Genuity Group decreased their price objective on Ameresco from $50.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Ameresco currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMRC. Quest Partners LLC acquired a new position in shares of Ameresco in the 4th quarter valued at $62,000. Cetera Trust Company N.A acquired a new stake in Ameresco during the 4th quarter valued at $106,000. Quantbot Technologies LP purchased a new stake in shares of Ameresco during the third quarter worth about $295,000. Inspire Investing LLC raised its position in shares of Ameresco by 25.1% in the third quarter. Inspire Investing LLC now owns 8,008 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,607 shares during the last quarter. Finally, TIAA Trust National Association purchased a new position in shares of Ameresco during the 3rd quarter worth $328,000. 99.24% of the stock is owned by institutional investors and hedge funds.

Ameresco Stock Performance

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 firm has a market cap of $1.51 billion, a PE ratio of 21.14, a P/E/G ratio of 0.65 and a beta of 1.60. The stock has a 50-day moving average price of $21.15 and a 200 day moving average price of $24.71.

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.