Ameresco (NYSE:AMRC) Shares Gap Down – What’s Next?

Ameresco, Inc. (NYSE:AMRC) gapped down before the market opened on Tuesday . The stock had previously closed at $10.56, but opened at $10.04. Ameresco shares last traded at $10.01, with a volume of 332,549 shares trading hands.

Wall Street Analysts Forecast Growth

AMRC has been the subject of a number of research reports. 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 note on Friday. UBS Group lowered shares of Ameresco from a “buy” rating to a “sell” rating and cut their price target for the company from $37.00 to $8.00 in a research report on Tuesday. Stifel Nicolaus upped their price target 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. Canaccord Genuity Group dropped their target price on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.11.

Ameresco Stock Performance

The company has a market capitalization of $510.59 million, a P/E ratio of 9.80, a P/E/G ratio of 0.49 and a beta of 1.79. The business has a 50-day moving average of $21.82 and a 200-day moving average of $27.39. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 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 analyst estimates of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. On average, sell-side analysts anticipate that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Buying and Selling at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,225 shares in the company, valued at $362,758.50. The trade was a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameresco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Trust Company N.A boosted its stake in shares of Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 440 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ameresco by 1.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 747 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ameresco by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after purchasing an additional 859 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Ameresco by 10.4% during the fourth quarter. MetLife Investment Management LLC now owns 20,535 shares of the utilities provider’s stock worth $482,000 after acquiring an additional 1,930 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Ameresco by 6.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,273 shares of the utilities provider’s stock valued at $711,000 after purchasing an additional 1,967 shares during the period. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.