Ameresco (NYSE:AMRC) Shares Down 5.9% – Here’s Why

Ameresco, Inc. (NYSE:AMRC) fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $29.75 and last traded at $29.88. 69,376 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 471,455 shares. The stock had previously closed at $31.74.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group started coverage on Ameresco in a research report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 target price for the company. Piper Sandler lifted their target price on shares of Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. UBS Group upped their price target on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird increased their price objective on Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.73.

Ameresco Stock Up 2.6 %

The business’s 50 day moving average is $33.00 and its 200 day moving average is $30.31. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.00 and a current ratio of 1.01.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The company had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. Equities analysts expect that Ameresco, Inc. will post 1.16 earnings per share for the current year.

Insider Buying and Selling

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 5,221 shares of company stock worth $140,814. 42.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently made changes to their positions in AMRC. LGT Group Foundation acquired a new stake in Ameresco in the 2nd quarter valued at $20,325,000. Swedbank AB acquired a new stake in shares of Ameresco during the first quarter worth approximately $12,065,000. Point72 Asset Management L.P. acquired a new position in shares of Ameresco in the 2nd quarter worth approximately $10,821,000. Redwood Grove Capital LLC bought a new stake in Ameresco during the 1st quarter worth approximately $7,170,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Ameresco by 3,389.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 184,935 shares of the utilities provider’s stock valued at $7,124,000 after purchasing an additional 179,635 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.