Ameresco (NYSE:AMRC) Shares Down 5.2%

Ameresco, Inc. (NYSE:AMRC)’s share price dropped 5.2% during mid-day trading on Tuesday . The company traded as low as $27.60 and last traded at $27.74. Approximately 54,687 shares traded hands during trading, a decline of 90% from the average daily volume of 522,759 shares. The stock had previously closed at $29.26.

Wall Street Analysts Forecast Growth

AMRC has been the subject of several research reports. StockNews.com upgraded shares of Ameresco to a “sell” rating in a research report on Saturday, August 17th. Stifel Nicolaus lowered their price objective on shares of Ameresco from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Robert W. Baird raised their target price on shares of Ameresco from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Piper Sandler reduced 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. Finally, B. Riley raised shares of Ameresco to a “strong-buy” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Ameresco Stock Performance

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $29.95 and its two-hundred day simple moving average is $26.33. The stock has a market cap of $1.44 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 0.86 and a beta of 1.78.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Ameresco had a net margin of 4.17% and a return on equity of 6.67%. The company had revenue of $437.98 million during the quarter, compared to the consensus estimate of $373.75 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. As a group, research analysts forecast that Ameresco, Inc. will post 1.36 EPS for the current year.

Insider Buying and Selling at Ameresco

In other news, CAO Mark Chiplock sold 3,000 shares of Ameresco stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the sale, the chief accounting officer now directly owns 348 shares in the company, valued at $12,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Doran Hole sold 5,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 1,878 shares in the company, valued at $49,823.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark Chiplock sold 3,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $35.00, for a total transaction of $105,000.00. Following the transaction, the chief accounting officer now owns 348 shares in the company, valued at $12,180. The disclosure for this sale can be found here. Insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Ameresco by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock worth $75,909,000 after purchasing an additional 36,303 shares during the period. Dimensional Fund Advisors LP raised its stake in Ameresco by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 912,198 shares of the utilities provider’s stock worth $28,890,000 after acquiring an additional 110,204 shares in the last quarter. First Trust Advisors LP raised its stake in Ameresco by 59.9% during the fourth quarter. First Trust Advisors LP now owns 793,437 shares of the utilities provider’s stock worth $25,128,000 after acquiring an additional 297,236 shares in the last quarter. BNP Paribas Asset Management Holding S.A. acquired a new position in Ameresco during the fourth quarter worth about $22,650,000. Finally, LGT Group Foundation acquired a new position in Ameresco during the second quarter worth about $20,325,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

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.