Ameresco (NYSE:AMRC) Shares Down 12.2% – Time to Sell?

Ameresco, Inc. (NYSE:AMRC)’s share price traded down 12.2% during mid-day trading on Tuesday . The company traded as low as $26.30 and last traded at $27.17. 636,511 shares were traded during mid-day trading, an increase of 29% from the average session volume of 492,599 shares. The stock had previously closed at $30.95.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMRC shares. William Blair raised shares of Ameresco to a “hold” rating in a report on Tuesday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ameresco in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. B. Riley Financial boosted their target price on Ameresco from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group raised their price target on Ameresco from $23.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.10.

Ameresco Price Performance

The stock has a market capitalization of $1.46 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 0.96 and a beta of 2.53. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.50 and a current ratio of 1.51. The firm has a 50-day moving average price of $31.36 and a 200 day moving average price of $32.25.

Ameresco (NYSE:AMRC) last issued its earnings results on Monday, March 2nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $581.03 million during the quarter, compared to analyst estimates of $556.09 million. Ameresco had a return on equity of 4.55% and a net margin of 2.29%.Ameresco’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

Insider Buying and Selling

In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $34.15, for a total value of $536,155.00. Following the completion of the sale, the director directly owned 14,111 shares of the company’s stock, valued at $481,890.65. The trade was a 52.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 16,645 shares of company stock valued at $568,297. 44.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ameresco by 2.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,501 shares of the utilities provider’s stock worth $1,159,000 after buying an additional 799 shares during the last quarter. Moody National Bank Trust Division lifted its stake in Ameresco by 2.3% in the fourth quarter. Moody National Bank Trust Division now owns 40,673 shares of the utilities provider’s stock worth $1,191,000 after acquiring an additional 917 shares during the period. State of Wyoming bought a new stake in Ameresco in the fourth quarter valued at $27,000. Kuhn & Co Investment Counsel increased its position in Ameresco by 4.6% during the 4th quarter. Kuhn & Co Investment Counsel now owns 22,650 shares of the utilities provider’s stock valued at $663,000 after purchasing an additional 1,000 shares during the period. Finally, Swiss National Bank increased its position in Ameresco by 1.6% during the 3rd quarter. Swiss National Bank now owns 63,800 shares of the utilities provider’s stock valued at $2,142,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 99.24% of the company’s stock.

About Ameresco

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.