Ameresco (NYSE:AMRC) Receives “Market Perform” Rating from Oppenheimer

Oppenheimer restated their market perform rating on shares of Ameresco (NYSE:AMRC) in a research note published on Tuesday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on the company. Piper Sandler dropped their target price on Ameresco from $64.00 to $59.00 and set an overweight rating on the stock in a research report on Friday, October 6th. Raymond James dropped their target price on Ameresco from $65.00 to $55.00 and set an outperform rating on the stock in a research report on Tuesday, October 3rd. Robert W. Baird increased their target price on Ameresco from $54.00 to $62.00 and gave the company an outperform rating in a research report on Tuesday, August 1st. Craig Hallum increased their target price on Ameresco from $68.00 to $73.00 and gave the company a buy rating in a research report on Tuesday, August 1st. Finally, Roth Mkm raised Ameresco from a neutral rating to a buy rating and set a $44.00 target price on the stock in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $56.25.

Ameresco Stock Down 14.9 %

Shares of NYSE:AMRC opened at $22.65 on Tuesday. Ameresco has a 52-week low of $18.40 and a 52-week high of $68.75. The stock has a market cap of $1.18 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 0.67 and a beta of 1.53. The business’s 50 day moving average is $36.18 and its 200 day moving average is $43.75. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.90.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.07). Ameresco had a return on equity of 6.59% and a net margin of 3.85%. The firm had revenue of $335.15 million during the quarter, compared to the consensus estimate of $385.05 million. During the same period last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. Sell-side analysts predict that Ameresco will post 1.8 EPS for the current year.

Insider Transactions at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of Ameresco stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $41.86, for a total transaction of $209,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ameresco news, CEO George P. Sakellaris sold 1,072 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $43.51, for a total value of $46,642.72. Following the completion of the transaction, the chief executive officer now owns 773,720 shares in the company, valued at $33,664,557.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $41.86, for a total transaction of $209,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,670 shares of company stock worth $774,221 in the last ninety days. Insiders own 41.75% of the company’s stock.

Institutional Investors Weigh In On Ameresco

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of Ameresco during the 3rd quarter valued at approximately $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ameresco by 302.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 849 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 638 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Ameresco during the 1st quarter valued at $49,000. Lazard Asset Management LLC acquired a new position in shares of Ameresco during the 1st quarter valued at $50,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Ameresco during the 1st quarter valued at $62,000. Institutional investors and hedge funds own 61.61% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, and internationally. The company operates through U.S. Regions, U.S. Federal, Canada, and Alternative Fuels segments. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.