Ameresco (NYSE:AMRC) Shares Down 5.5%

Ameresco, Inc. (NYSE:AMRC)’s share price dropped 5.5% during trading on Thursday . The stock traded as low as $34.68 and last traded at $34.68. Approximately 133,783 shares traded hands during trading, a decline of 72% from the average daily volume of 483,315 shares. The stock had previously closed at $36.70.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMRC shares. UBS Group lifted their target price on shares of Ameresco from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Robert W. Baird lifted their price target on Ameresco from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. StockNews.com raised Ameresco to a “sell” rating in a research note on Tuesday. B. Riley raised Ameresco to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Piper Sandler lowered their target price on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.46.

Ameresco Trading Down 6.5 %

The company has a 50 day moving average of $31.48 and a 200-day moving average of $28.86. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 1.31 and a beta of 1.78. 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 issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). The business had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. On average, research analysts anticipate that Ameresco, Inc. will post 1.16 earnings per share for the current year.

Insider Buying and Selling at Ameresco

In other news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total transaction of $132,650.00. Following the sale, the chief financial officer now owns 1,878 shares of the company’s stock, valued at $49,823.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,221 shares of company stock valued at $140,814 in the last 90 days. Company insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of hedge funds have recently modified their holdings of AMRC. SG Americas Securities LLC grew its stake in shares of Ameresco by 358.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,906 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 19,478 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Ameresco in the 2nd quarter valued at approximately $86,000. Maven Securities LTD purchased a new position in shares of Ameresco in the second quarter valued at $360,000. Point72 Asset Management L.P. purchased a new stake in shares of Ameresco in the 2nd quarter worth about $10,821,000. Finally, Ironwood Investment Management LLC increased its holdings in Ameresco by 60.1% during the 2nd quarter. Ironwood Investment Management LLC now owns 22,895 shares of the utilities provider’s stock valued at $660,000 after acquiring an additional 8,599 shares in the last quarter. 99.24% of the stock is currently owned by hedge funds and other institutional investors.

Ameresco Company Profile

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.