Ameresco (NYSE:AMRC) Trading Down 7%

Shares of Ameresco, Inc. (NYSE:AMRC) dropped 7% during trading on Friday . The company traded as low as $29.41 and last traded at $29.41. Approximately 44,822 shares were traded during trading, a decline of 91% from the average daily volume of 501,023 shares. The stock had previously closed at $31.64.

Wall Street Analysts Forecast Growth

AMRC has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Piper Sandler dropped their price target on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. B. Riley raised shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. UBS Group lifted their price objective on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Ameresco in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameresco currently has an average rating of “Moderate Buy” and an average target price of $37.69.

Ameresco Stock Performance

The firm’s 50-day moving average price is $29.36 and its two-hundred day moving average price is $26.85. The firm has a market capitalization of $1.50 billion, a PE ratio of 27.07, a P/E/G ratio of 1.06 and a beta of 1.78. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million during the quarter, compared to analysts’ expectations of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The business’s revenue was up 33.9% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. As a group, research analysts predict that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at Ameresco

In related news, CFO Spencer Doran Hole sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.53, for a total transaction of $132,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 42.00% of the stock is currently owned by insiders.

Institutional Trading of Ameresco

Several institutional investors have recently made changes to their positions in the stock. Maven Securities LTD acquired a new stake in shares of Ameresco during the second quarter worth approximately $360,000. Point72 Asset Management L.P. acquired a new stake in Ameresco in the second quarter valued at approximately $10,821,000. Ironwood Investment Management LLC lifted its stake in Ameresco by 60.1% in the second 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 during the last quarter. Algert Global LLC lifted its stake in Ameresco by 113.3% in the second quarter. Algert Global LLC now owns 119,183 shares of the utilities provider’s stock valued at $3,434,000 after acquiring an additional 63,313 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Ameresco by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 12,374 shares of the utilities provider’s stock valued at $356,000 after acquiring an additional 489 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.