Ameresco (NYSE:AMRC) Trading Down 2.7% Following Analyst Downgrade

Ameresco, Inc. (NYSE:AMRC) dropped 2.7% during trading on Thursday after Piper Sandler lowered their price target on the stock from $32.00 to $30.00. Piper Sandler currently has an overweight rating on the stock. Ameresco traded as low as $22.34 and last traded at $22.49. Approximately 34,927 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 534,873 shares. The stock had previously closed at $23.12.

Other equities research analysts have also recently issued reports about the company. B. Riley dropped their price objective on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Bank of America downgraded Ameresco from a “buy” rating to a “neutral” rating and increased their target price for the company from $29.00 to $37.00 in a report on Friday, December 15th. Guggenheim reissued a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Raymond James lowered their target price on Ameresco from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group decreased their price objective on Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Institutional Trading of Ameresco

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Ameresco by 24.8% during the 1st quarter. JPMorgan Chase & Co. now owns 89,815 shares of the utilities provider’s stock valued at $7,141,000 after purchasing an additional 17,857 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Ameresco by 58.9% during the 1st quarter. MetLife Investment Management LLC now owns 15,991 shares of the utilities provider’s stock valued at $1,271,000 after purchasing an additional 5,927 shares during the last quarter. Rhumbline Advisers increased its position in shares of Ameresco by 6.8% during the 1st quarter. Rhumbline Advisers now owns 32,223 shares of the utilities provider’s stock valued at $2,562,000 after purchasing an additional 2,055 shares during the last quarter. BlackRock Inc. increased its position in shares of Ameresco by 3.2% during the 1st quarter. BlackRock Inc. now owns 2,355,254 shares of the utilities provider’s stock valued at $187,241,000 after purchasing an additional 72,667 shares during the last quarter. Finally, Cibc World Market Inc. increased its position in shares of Ameresco by 5.1% during the 1st quarter. Cibc World Market Inc. now owns 8,278 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 399 shares during the last quarter. Institutional investors own 99.24% of the company’s stock.

Ameresco Trading Down 2.1 %

The stock has a market cap of $1.18 billion, a P/E ratio of 19.19, a P/E/G ratio of 0.66 and a beta of 1.56. 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 company has a 50-day moving average price of $21.63 and a two-hundred day moving average price of $26.67.

Ameresco (NYSE:AMRC) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.60 by $0.09. The company had revenue of $441.40 million for the quarter, compared to the consensus estimate of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. Ameresco’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. On average, research analysts expect that Ameresco, Inc. will post 1.4 EPS for the current fiscal year.

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, 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.