Ameresco (NYSE:AMRC) Stock Price Down 2.2% – Here’s What Happened

Ameresco, Inc. (NYSE:AMRC) fell 2.2% during mid-day trading on Monday . The stock traded as low as $13.08 and last traded at $13.12. 117,373 shares changed hands during trading, a decline of 83% from the average session volume of 673,434 shares. The stock had previously closed at $13.41.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AMRC shares. Robert W. Baird decreased their target price on shares of Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, February 28th. UBS Group downgraded shares of Ameresco from a “buy” rating to a “sell” rating and reduced their price target for the company from $37.00 to $8.00 in a research report on Tuesday, March 4th. 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 research note on Wednesday, March 5th. Finally, Canaccord Genuity Group reduced their price objective on Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ameresco presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

Ameresco Price Performance

The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The stock’s 50-day moving average price is $17.41 and its 200 day moving average price is $25.35. The firm has a market cap of $672.00 million, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.49 and a beta of 2.07.

Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Equities research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insider Activity at Ameresco

In other news, Director Jennifer L. Miller sold 40,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the transaction, the director now owns 17,225 shares of the company’s stock, valued at $362,758.50. This represents a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Francis V. Wisneski, Jr. acquired 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought 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 of the company’s stock, valued at $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 80,808 shares of company stock valued at $785,274 and sold 40,085 shares valued at $843,378. Insiders own 42.00% of the company’s stock.

Institutional Trading of Ameresco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its stake in Ameresco by 1,294.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 2,279 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Ameresco during the fourth quarter worth about $146,000. Cetera Trust Company N.A increased its stake 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. Lazard Asset Management LLC increased its position in shares of Ameresco by 145.0% during the fourth quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock worth $172,000 after acquiring an additional 4,362 shares in the last quarter. Finally, FMR LLC lifted its position in Ameresco by 257.9% in the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 3,855 shares in the last quarter. 99.24% of the stock is 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.