Ameresco (NYSE:AMRC) Lowered to Sell at Roth Capital

Ameresco (NYSE:AMRCGet Rating) was downgraded by stock analysts at Roth Capital from a “buy” rating to a “sell” rating in a note issued to investors on Monday, Briefing.com reports. They currently have a $52.00 target price on the utilities provider’s stock, down from their prior target price of $76.00. Roth Capital’s price objective points to a potential downside of 24.94% from the stock’s previous close.

Several other equities analysts have also recently weighed in on AMRC. TheStreet cut shares of Ameresco from a “b-” rating to a “c+” rating in a research note on Tuesday, March 1st. Zacks Investment Research cut shares of Ameresco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 2nd. Piper Sandler reduced their price objective on shares of Ameresco from $80.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, March 14th. StockNews.com began coverage on shares of Ameresco in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ameresco from $88.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.75.

NYSE AMRC opened at $69.28 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. Ameresco has a 12-month low of $42.53 and a 12-month high of $101.86. The firm has a market capitalization of $3.58 billion, a P/E ratio of 51.70, a PEG ratio of 1.45 and a beta of 0.78. The firm has a 50 day simple moving average of $66.46.

Ameresco (NYSE:AMRCGet Rating) last released its earnings results on Monday, February 28th. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Ameresco had a net margin of 5.80% and a return on equity of 11.94%. The business had revenue of $415.89 million during the quarter, compared to analysts’ expectations of $414.83 million. During the same period last year, the business earned $0.47 earnings per share. On average, sell-side analysts predict that Ameresco will post 1.86 earnings per share for the current fiscal year.

In other Ameresco news, CFO Spencer Doran Hole sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $75.48, for a total value of $1,207,680.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark Chiplock sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $73.00, for a total transaction of $219,000.00. The disclosure for this sale can be found here. Insiders have sold 29,984 shares of company stock valued at $2,298,166 in the last ninety days. 41.68% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of AMRC. Norges Bank bought a new position in Ameresco during the fourth quarter worth $2,447,000. Barclays PLC increased its stake in Ameresco by 74.9% in the fourth quarter. Barclays PLC now owns 38,611 shares of the utilities provider’s stock valued at $3,145,000 after purchasing an additional 16,534 shares in the last quarter. BlackRock Inc. increased its stake in Ameresco by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,282,587 shares of the utilities provider’s stock valued at $185,893,000 after purchasing an additional 48,991 shares in the last quarter. Vident Investment Advisory LLC increased its stake in Ameresco by 39.2% in the fourth quarter. Vident Investment Advisory LLC now owns 4,985 shares of the utilities provider’s stock valued at $406,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Ameresco by 47.4% in the fourth quarter. Wells Fargo & Company MN now owns 33,196 shares of the utilities provider’s stock valued at $2,703,000 after purchasing an additional 10,679 shares in the last quarter. Institutional investors own 49.22% of the company’s stock.

About Ameresco (Get Rating)

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.

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