Ameresco (NYSE:AMRC) Hits New 12-Month Low – Here’s Why

Ameresco, Inc. (NYSE:AMRC) shares reached a new 52-week low on Wednesday . The stock traded as low as $9.00 and last traded at $9.56, with a volume of 194581 shares traded. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

AMRC has been the topic of several analyst reports. UBS Group downgraded Ameresco from a “buy” rating to a “sell” rating and lowered their price target for the company from $37.00 to $8.00 in a report on Tuesday, March 4th. Canaccord Genuity Group lowered their target price on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Robert W. Baird cut their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, Stifel Nicolaus dropped their price objective on Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameresco currently has an average rating of “Moderate Buy” and an average target price of $26.57.

Ameresco Stock Down 1.9 %

The firm’s 50-day simple moving average is $13.96 and its 200 day simple moving average is $23.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The company has a market cap of $526.99 million, a P/E ratio of 10.03, a PEG ratio of 0.49 and a beta of 2.02.

Ameresco (NYSE:AMRC) last issued 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. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The firm had revenue of $532.67 million during the quarter, compared to analysts’ expectations of $524.31 million. On average, research analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Activity at Ameresco

In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the sale, the director now directly owns 17,225 shares of the company’s stock, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO George P. Sakellaris acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.27 per share, with a total value of $231,750.00. Following the acquisition, the chief executive officer now directly owns 978,638 shares in the company, valued at $9,071,974.26. This represents a 2.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 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 owned by insiders.

Institutional Investors Weigh In On Ameresco

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its position in Ameresco by 124.4% during the fourth quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after acquiring an additional 464,737 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Ameresco by 81.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,004,902 shares of the utilities provider’s stock worth $38,126,000 after purchasing an additional 450,571 shares during the last quarter. DnB Asset Management AS raised its holdings in shares of Ameresco by 59.6% in the 4th quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock valued at $14,403,000 after purchasing an additional 229,128 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 valued at $27,230,000 after purchasing an additional 214,918 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Ameresco by 87.7% during the fourth quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after purchasing an additional 196,776 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.