Ameresco (NYSE:AMRC) Reaches New 12-Month Low After Analyst Downgrade

Ameresco, Inc. (NYSE:AMRC)’s stock price reached a new 52-week low during trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $36.00 to $27.00. Canaccord Genuity Group currently has a buy rating on the stock. Ameresco traded as low as $13.04 and last traded at $12.90, with a volume of 156877 shares traded. The stock had previously closed at $18.33.

A number of other equities research analysts also recently issued reports on AMRC. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Stifel Nicolaus boosted their price objective on shares of Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Robert W. Baird cut their price objective on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday. Finally, UBS Group dropped their target price on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Insiders Place Their Bets

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

Institutional Trading of Ameresco

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Ameresco by 100.3% in 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 in the last quarter. Cetera Trust Company N.A raised its position in shares of Ameresco by 6.9% during the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after buying an additional 440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ameresco by 1.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider’s stock valued at $977,000 after buying an additional 747 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ameresco by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock valued at $2,389,000 after buying an additional 859 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Ameresco by 10.4% during the 4th quarter. MetLife Investment Management LLC now owns 20,535 shares of the utilities provider’s stock valued at $482,000 after buying an additional 1,930 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Price Performance

The firm’s 50-day moving average price is $22.27 and its 200-day moving average price is $27.62. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $618.83 million, a PE ratio of 11.80, a PEG ratio of 0.49 and a beta of 1.79.

Ameresco (NYSE:AMRC) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.12. The firm had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. On average, equities analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

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.