Ameresco (NYSE:AMRC) Trading Down 5.7% – Here’s What Happened

Ameresco, Inc. (NYSE:AMRC)’s stock price dropped 5.7% on Friday . The company traded as low as $9.60 and last traded at $9.64. Approximately 34,409 shares were traded during trading, a decline of 93% from the average daily volume of 487,232 shares. The stock had previously closed at $10.22.

Analyst Ratings Changes

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

Ameresco Price Performance

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 firm has a market capitalization of $526.99 million, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02. The business has a fifty day moving average of $13.96 and a 200-day moving average of $23.00.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $532.67 million during the quarter, compared to analysts’ expectations of $524.31 million. On average, sell-side analysts forecast that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the sale, the director now owns 17,225 shares of the company’s stock, valued at $362,758.50. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $9.67 per share, with a total value of $33,845.00. Following the completion of the purchase, the director now owns 17,738 shares in the company, valued at $171,526.46. This represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Ameresco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Ameresco by 132.0% in the 1st quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider’s stock worth $97,000 after purchasing an additional 4,557 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Ameresco in the fourth quarter worth approximately $146,000. Cetera Trust Company N.A increased its holdings in shares of Ameresco by 6.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after buying an additional 440 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Ameresco by 145.0% during the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock valued at $172,000 after acquiring an additional 4,362 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Ameresco by 257.9% during the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 3,855 shares in the last quarter. 99.24% of the stock is currently owned by institutional investors.

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.