UBS Group Has Lowered Expectations for Ameresco (NYSE:AMRC) Stock Price

Ameresco (NYSE:AMRC) had its price target reduced by UBS Group from $40.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective would indicate a potential upside of 13.24% from the company’s current price.

Several other brokerages have also recently commented on AMRC. Cantor Fitzgerald restated an “overweight” rating on shares of Ameresco in a report on Wednesday, March 4th. Wall Street Zen cut Ameresco from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Roth Mkm reiterated a “buy” rating on shares of Ameresco in a research report on Wednesday, December 3rd. B. Riley Financial increased their price objective on shares of Ameresco from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group raised their price objective on shares of Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Ameresco Stock Performance

NYSE:AMRC opened at $24.73 on Friday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 1.94 and a beta of 2.53. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 1.56. Ameresco has a 1 year low of $8.49 and a 1 year high of $44.93. The firm has a 50 day moving average of $30.82 and a 200-day moving average of $32.37.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Monday, March 2nd. The utilities provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Ameresco had a return on equity of 4.49% and a net margin of 2.29%.The business had revenue of $581.03 million for the quarter, compared to analyst estimates of $556.09 million. During the same period in the prior year, the company earned $0.88 EPS. Ameresco’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Ameresco will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling at Ameresco

In other news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $34.15, for a total transaction of $536,155.00. Following the completion of the sale, the director owned 14,111 shares in the company, valued at $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 17,020 shares of company stock worth $577,840 in the last ninety days. Insiders own 44.96% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Several hedge funds have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in Ameresco during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Ameresco during the 4th quarter valued at about $48,000. CoreCap Advisors LLC bought a new position in shares of Ameresco in the 3rd quarter valued at about $50,000. Tower Research Capital LLC TRC grew its position in shares of Ameresco by 99.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the utilities provider’s stock worth $53,000 after buying an additional 1,754 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Ameresco during the 4th quarter worth approximately $55,000. Institutional investors own 99.24% of the company’s stock.

Ameresco Company Profile

Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients.

Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations.