Ameresco (NYSE:AMRC) Trading Down 2.8%

Ameresco, Inc. (NYSE:AMRC) was down 2.8% during mid-day trading on Friday . The stock traded as low as $22.05 and last traded at $22.15. Approximately 60,929 shares were traded during trading, a decline of 89% from the average daily volume of 540,841 shares. The stock had previously closed at $22.79.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AMRC shares. B. Riley cut their price target on shares of Ameresco from $46.00 to $40.00 and set a “buy” rating for the company in a report on Monday, February 5th. Raymond James lowered their target price on shares of Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday. Guggenheim restated a “neutral” rating on shares of Ameresco in a research report on Thursday, February 29th. BNP Paribas upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Tuesday, March 12th. Finally, Bank of America lowered shares of Ameresco from a “buy” rating to a “neutral” rating and upped their target price for the stock from $29.00 to $37.00 in a research report on Friday, December 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Ameresco Trading Down 1.3 %

The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.56. The business has a 50 day simple moving average of $21.50 and a 200-day simple moving average of $27.08.

Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The business had revenue of $441.40 million for the quarter, compared to analysts’ expectations of $399.98 million. Ameresco had a net margin of 4.54% and a return on equity of 7.49%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. On average, equities analysts predict that Ameresco, Inc. will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Ameresco by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,109,535 shares of the utilities provider’s stock worth $98,479,000 after purchasing an additional 41,199 shares during the period. Handelsbanken Fonder AB grew its stake in Ameresco by 5.7% during the third quarter. Handelsbanken Fonder AB now owns 2,779,592 shares of the utilities provider’s stock worth $107,181,000 after buying an additional 150,000 shares during the period. BlackRock Inc. increased its position in shares of Ameresco by 3.8% in the third quarter. BlackRock Inc. now owns 2,516,621 shares of the utilities provider’s stock worth $167,305,000 after acquiring an additional 92,278 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Ameresco by 1.9% during the 1st quarter. Macquarie Group Ltd. now owns 1,215,729 shares of the utilities provider’s stock valued at $59,838,000 after acquiring an additional 23,123 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Ameresco by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock worth $45,083,000 after purchasing an additional 176,971 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.