Ameresco (NYSE:AMRC) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Ameresco, Inc. (NYSE:AMRC) 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 changing hands. The stock had previously closed at $18.33.

AMRC has been the subject of several other research reports. UBS Group lowered their price objective on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird dropped their price target on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday. 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. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Insider Buying and Selling

In other news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the sale, the director now directly owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 42.00% of the stock is owned by company insiders.

Institutional Trading of Ameresco

Several institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 391 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Ameresco by 1,294.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after acquiring an additional 2,279 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Ameresco during the fourth quarter valued at approximately $146,000. Cetera Trust Company N.A boosted its holdings in Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 440 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Ameresco by 145.0% in the fourth quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 4,362 shares during the period. 99.24% of the stock is owned by hedge funds and other institutional investors.

Ameresco Stock Performance

The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The business has a 50-day moving average of $22.06 and a 200 day moving average of $27.51. The company has a market cap 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 released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. Equities research analysts anticipate 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.