Ameresco Inc. (NYSE: AMRC) stock jumped 11.05% on Friday to $28.94 against a previous-day closing price of $26.06. With 0.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.52 million shares. The 52-week range on AMRC shows that it touched its highest point at $68.75 and its lowest point at $18.40 during that stretch. It currently has a 1-year price target of $42.33. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AMRC was up-trending over the past week, with a rise of 29.83%, but this was down by -8.50% over a month. Three-month performance dropped to -38.91% while six-month performance fell -33.02%. The stock lost -53.84% in the past year, while it has lost -49.35% so far this year. A look at the trailing 12-month EPS for AMRC yields 0.87 with Next year EPS estimates of 2.01. For the next quarter, that number is 0.74. This implies an EPS growth rate of -31.08% for this year and 55.74% for next year. EPS is expected to grow by 27.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.76%.
Float and Shares Shorts:
At present, 33.95 million AMRC shares are outstanding with a float of 31.85 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.75 million, which was 7.19% higher than short shares on Sep 28, 2023. In addition to Mr. George P. Sakellaris P.E. as the firm’s Founder, Chairman, CEO & President, Mr. Spencer Doran Hole serves as its Executive VP & CFO.
Through their ownership of 97.91% of AMRC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 69.45% of AMRC, in contrast to 33.37% held by mutual funds. Shares owned by individuals account for 22.56%. As the largest shareholder in AMRC with 11.20% of the stake, Grantham, Mayo, Van Otterloo & Co holds 3,828,840 shares worth 3,828,840. A second-largest stockholder of AMRC, The Vanguard Group, Inc., holds 2,976,601 shares, controlling over 8.70% of the firm’s shares. Handelsbanken Fonder AB is the third largest shareholder in AMRC, holding 2,779,592 shares or 8.13% stake. With a 4.79% stake in AMRC, the Handelsbanken Hallbar Energi is the largest stakeholder. A total of 1,639,250 shares are owned by the mutual fund manager. The Delaware Small Cap Core Fund, which owns about 3.22% of AMRC stock, is the second-largest Mutual Fund holder. It holds 1,101,096 shares valued at 28.79 million. Vanguard Total Stock Market ETF holds 2.96% of the stake in AMRC, owning 1,010,855 shares worth 26.43 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AMRC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AMRC analysts setting a high price target of $59.00 and a low target of $29.00, the average target price over the next 12 months is $42.33. Based on these targets, AMRC could surge 103.87% to reach the target high and rise by 0.21% to reach the target low. Reaching the average price target will result in a growth of 46.27% from current levels.
Summary of Insider Activity:
Insiders traded AMRC stock several times over the past three months with 15 Buys and 15 Sells. In these transactions, 24,426 shares were bought while 21,793 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 18 over the past year. The total number of shares bought during that period was 103,241 while 33,956 shares were sold.