Ameresco (NYSE:AMRC) Trading Down 5.7% – Here’s Why

Ameresco, Inc. (NYSE:AMRC) dropped 5.7% during trading on Friday . The stock traded as low as $9.60 and last traded at $9.64. Approximately 34,409 shares changed hands during trading, a decline of 93% from the average daily volume of 487,232 shares. The stock had previously closed at $10.22.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Robert W. Baird cut their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus decreased their price objective on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Canaccord Genuity Group cut their target price on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, UBS Group cut Ameresco from a “buy” rating to a “sell” rating and decreased their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.57.

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 stock’s 50 day moving average price is $14.16 and its two-hundred day moving average price is $23.19. The firm has a market capitalization of $516.43 million, a price-to-earnings ratio of 9.74, a P/E/G ratio of 0.49 and a beta of 2.02.

Ameresco (NYSE:AMRC) last issued its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $532.67 million for the quarter, compared to analyst estimates of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. Analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO George P. Sakellaris purchased 25,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 978,638 shares of the company’s stock, valued at approximately $9,071,974.26. The trade was a 2.62 % 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, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares of the company’s stock, valued at $171,526.46. This trade represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. 42.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently modified their holdings of AMRC. First Trust Advisors LP raised its position in shares of Ameresco by 124.4% during the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock valued at $19,682,000 after buying an additional 464,737 shares during the last quarter. Wellington Management Group LLP increased its stake 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 valued at $38,126,000 after acquiring an additional 450,571 shares during the period. DnB Asset Management AS raised its holdings in Ameresco by 59.6% in the 4th quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock valued at $14,403,000 after acquiring an additional 229,128 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ameresco by 22.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock worth $27,230,000 after acquiring an additional 214,918 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Ameresco by 87.7% in the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after acquiring an additional 196,776 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

Ameresco Company Profile

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.