Ameresco (NYSE:AMRC) Price Target Lowered to $27.00 at Canaccord Genuity Group

Ameresco (NYSE:AMRC) had its price objective cut by equities researchers at Canaccord Genuity Group from $36.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 117.11% from the company’s previous close.

AMRC has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Robert W. Baird reduced their target price on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com raised shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Finally, UBS Group lowered their price target on shares of Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ameresco has an average rating of “Moderate Buy” and an average target price of $33.33.

Ameresco Price Performance

AMRC traded down $5.89 during trading hours on Friday, hitting $12.44. The company’s stock had a trading volume of 712,897 shares, compared to its average volume of 398,758. The business’s 50-day moving average price is $22.27 and its 200-day moving average price is $27.62. Ameresco has a 12 month low of $11.90 and a 12 month high of $39.68. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36. The stock has a market cap of $652.18 million, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.49 and a beta of 1.79.

Ameresco (NYSE:AMRC) last issued its 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. The company had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. Sell-side analysts expect that Ameresco will post 1.15 earnings per share 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 on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total value of $842,400.00. Following the completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Ameresco by 100.3% in the 3rd quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 391 shares during the last quarter. Cetera Trust Company N.A increased its position in Ameresco by 6.9% during the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ameresco by 1.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider’s stock worth $977,000 after purchasing an additional 747 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Ameresco by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after acquiring an additional 859 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Ameresco by 10.4% during the 4th quarter. MetLife Investment Management LLC now owns 20,535 shares of the utilities provider’s stock worth $482,000 after purchasing an additional 1,930 shares during the period. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.