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

Ameresco (NYSE:AMRC) had its price objective lowered by Canaccord Genuity Group from $36.00 to $27.00 in a research note released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the utilities provider’s stock.

A number of other equities research analysts have also commented on AMRC. UBS Group decreased their price objective on Ameresco from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus raised their price objective on Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com upgraded Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird decreased their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Ameresco Trading Down 35.6 %

NYSE:AMRC opened at $11.80 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. Ameresco has a 1-year low of $11.78 and a 1-year high of $39.68. The firm has a market capitalization of $618.83 million, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 0.49 and a beta of 1.79. The stock has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $27.62.

Ameresco (NYSE:AMRC) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share 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 business had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. Sell-side analysts forecast that Ameresco will post 1.15 earnings per share for the current year.

Insider Activity

In related news, Director Jennifer L. Miller sold 40,000 shares of the firm’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 value of $842,400.00. Following the transaction, the director now directly owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 42.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMRC. Blue Trust Inc. raised its stake in shares of 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Ameresco by 1,294.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,279 shares during the period. KLP Kapitalforvaltning AS bought a new position in Ameresco in the 4th quarter worth approximately $146,000. Cetera Trust Company N.A increased its position in Ameresco by 6.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after buying an additional 440 shares during the period. Finally, Lazard Asset Management LLC increased its position in Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock worth $172,000 after buying an additional 4,362 shares during the period. 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.