Ameresco (NYSE:AMRC) Shares Down 2.2% – What’s Next?

Ameresco, Inc. (NYSE:AMRC) shares dropped 2.2% during trading on Monday . The company traded as low as $13.08 and last traded at $13.12. Approximately 117,373 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 673,434 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

AMRC has been the subject of several research analyst reports. UBS Group lowered Ameresco from a “buy” rating to a “sell” rating and dropped their price target for the stock from $37.00 to $8.00 in a research note on Tuesday, March 4th. Robert W. Baird dropped their target price on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus decreased their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group cut their price target on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.63.

Ameresco Trading Down 1.3 %

The stock’s fifty day moving average price is $17.86 and its 200 day moving average price is $25.60. The stock has a market cap of $695.12 million, a PE ratio of 13.23, a PEG ratio of 0.49 and a beta of 2.07. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The business had revenue of $532.67 million during 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%. On average, sell-side analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Buying and Selling

In other news, CEO George P. Sakellaris bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the transaction, the chief executive officer now owns 978,638 shares of the company’s stock, valued at approximately $9,071,974.26. This represents a 2.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Over the last quarter, insiders have acquired 80,808 shares of company stock valued at $785,274 and have sold 40,085 shares valued at $843,378. 42.00% of the stock is currently owned by insiders.

Institutional Trading of Ameresco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new position in shares of Ameresco during the third quarter valued at $870,000. Intech Investment Management LLC bought a new position in shares of Ameresco in the 3rd quarter worth $359,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Ameresco during the 3rd quarter worth $349,000. Algert Global LLC boosted its position in Ameresco by 34.2% during the third quarter. Algert Global LLC now owns 159,903 shares of the utilities provider’s stock valued at $6,067,000 after purchasing an additional 40,720 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Ameresco by 4.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,700 shares of the utilities provider’s stock valued at $3,441,000 after purchasing an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors 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.