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

Ameresco, Inc. (NYSE:AMRC) reached a new 52-week low during mid-day 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 trading hands. The stock had previously closed at $18.33.

A number of other research firms have also weighed in on AMRC. 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. Stifel Nicolaus increased their target price on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird dropped their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Insider Buying and Selling

In other news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the transaction, the director now directly owns 17,225 shares in the company, valued at approximately $362,758.50. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameresco

Several large investors have recently made changes to their positions in AMRC. First Trust Advisors LP lifted its holdings 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 purchasing an additional 464,737 shares during the last quarter. Wellington Management Group LLP raised its holdings in Ameresco by 81.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after acquiring an additional 450,571 shares during the last quarter. 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 worth $14,403,000 after acquiring an additional 229,128 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 last quarter. Finally, First Eagle Investment Management LLC raised its holdings in 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 last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Stock Performance

The company has a market capitalization of $618.83 million, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.49 and a beta of 1.79. The business’s fifty day moving average is $22.27 and its two-hundred day moving average 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.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The company had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. Equities research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

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.