Ameresco (NYSE:AMRC) Stock Price Breaks Above 50-Day Moving Average – Time to Sell?

Ameresco, Inc. (NYSE:AMRC)’s stock price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $21.55 and traded as high as $22.44. Ameresco shares last traded at $22.3010, with a volume of 526,718 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMRC. BNP Paribas Exane raised Ameresco from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $40.00 in a research report on Tuesday, August 4th. Canaccord Genuity Group increased their price target on Ameresco from $59.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Jefferies Financial Group upgraded Ameresco to a “strong-buy” rating in a research report on Thursday, September 3rd. Cantor Fitzgerald dropped their price objective on shares of Ameresco from $44.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, August 27th. Finally, Robert W. Baird lowered shares of Ameresco from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $36.00 to $32.00 in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameresco has an average rating of “Hold” and an average target price of $41.00.

Ameresco Price Performance

The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.66 and a current ratio of 1.67. The company has a market capitalization of $1.18 billion, a P/E ratio of 42.89, a P/E/G ratio of 1.56 and a beta of 2.50. The firm’s fifty day moving average is $21.55 and its 200 day moving average is $26.41.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $515.46 million during the quarter, compared to the consensus estimate of $465.18 million. Ameresco had a net margin of 1.40% and a return on equity of 2.82%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts predict that Ameresco, Inc. will post 1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ameresco news, Director Jennifer Miller bought 2,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were purchased at an average price of $20.96 per share, with a total value of $41,920.00. Following the completion of the purchase, the director owned 34,546 shares in the company, valued at $724,084.16. This represents a 6.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO George Sakellaris purchased 5,000 shares of Ameresco stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $20.91 per share, for a total transaction of $104,550.00. Following the completion of the acquisition, the chief executive officer owned 1,000,597 shares of the company’s stock, valued at approximately $20,922,483.27. This trade represents a 0.50% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 75,025 shares of company stock worth $1,778,963. Corporate insiders own 45.10% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its stake in Ameresco by 458.8% in the third quarter. Farther Finance Advisors LLC now owns 1,263 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,037 shares during the period. Fifth Third Bancorp bought a new stake in shares of Ameresco during the first quarter worth $44,000. Optiver Holding B.V. lifted its position in shares of Ameresco by 550.8% during the first quarter. Optiver Holding B.V. now owns 2,369 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 2,005 shares during the last quarter. Northside Capital Management LLC purchased a new stake in shares of Ameresco during the second quarter valued at $207,000. Finally, Entropy Technologies LP purchased a new stake in shares of Ameresco during the first quarter valued at $216,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc (NYSE:AMRC) is an energy solutions and renewable energy company that develops, designs, constructs, and operates energy efficiency and infrastructure projects. Its services help public- and private-sector organizations reduce energy consumption, improve facility performance, and transition to lower-carbon energy sources.

The company’s offerings include energy-as-a-service programs, energy audits and efficiency upgrades, solar power systems, battery energy storage, microgrids, distributed energy resources, LED lighting, heating and cooling systems, and renewable natural gas projects.