Ameresco (NYSE:AMRC) Stock Price Down 6.5% – Here’s What Happened
by Mitch Edgeman · The Markets DailyAmeresco, Inc. (NYSE:AMRC – Get Free Report)’s share price fell 6.5% during mid-day trading on Wednesday . The company traded as low as $24.19 and last traded at $23.8520. 222,848 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 518,226 shares. The stock had previously closed at $25.50.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $38.00 price objective (up from $37.00) on shares of Ameresco in a research report on Wednesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Ameresco in a report on Wednesday, March 4th. Canaccord Genuity Group lifted their target price on Ameresco from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. UBS Group lowered their target price on Ameresco from $40.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, Weiss Ratings cut Ameresco from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.
Ameresco Stock Performance
The company has a market cap of $1.30 billion, a P/E ratio of 29.54, a PEG ratio of 2.04 and a beta of 2.61. The company has a 50 day moving average price of $29.48 and a 200-day moving average price of $32.39. The company has a quick ratio of 1.50, a current ratio of 1.51 and a debt-to-equity ratio of 1.56.
Ameresco (NYSE:AMRC – Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The utilities provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $581.03 million for the quarter, compared to analysts’ expectations of $556.09 million. Ameresco had a net margin of 2.29% and a return on equity of 4.49%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Equities analysts expect that Ameresco, Inc. will post 1.15 EPS for the current fiscal year.
Insider Activity at Ameresco
In other Ameresco news, Director Nickolas Stavropoulos sold 15,700 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $34.15, for a total transaction of $536,155.00. Following the sale, the director directly owned 14,111 shares in the company, valued at approximately $481,890.65. The trade was a 52.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 17,020 shares of company stock worth $577,840. 44.96% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in Ameresco by 1,832.5% during the 2nd quarter. First Trust Advisors LP now owns 1,775,187 shares of the utilities provider’s stock valued at $26,965,000 after purchasing an additional 1,683,326 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Ameresco by 318.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,788 shares of the utilities provider’s stock worth $3,620,000 after buying an additional 82,015 shares in the last quarter. Swedbank AB acquired a new stake in shares of Ameresco in the third quarter valued at $3,895,000. Squarepoint Ops LLC lifted its holdings in shares of Ameresco by 106.4% in the second quarter. Squarepoint Ops LLC now owns 187,363 shares of the utilities provider’s stock valued at $2,846,000 after buying an additional 96,606 shares during the period. Finally, Caxton Associates LLP bought a new position in Ameresco during the second quarter valued at about $2,300,000. Institutional investors and hedge funds 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.