Ameresco (NYSE:AMRC) Hits New 12-Month Low – Here’s Why

Ameresco, Inc. (NYSE:AMRC) reached a new 52-week low on Wednesday . The stock traded as low as $9.00 and last traded at $9.56, with a volume of 194581 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on Ameresco from $34.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird dropped their target price on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. UBS Group cut shares of Ameresco from a “buy” rating to a “sell” rating and decreased their price target for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group dropped their price objective on shares of Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.57.

Ameresco Stock Performance

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The firm has a market cap of $561.72 million, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02. The firm’s 50 day moving average is $14.85 and its 200-day moving average is $23.65.

Ameresco (NYSE:AMRC) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The firm had revenue of $532.67 million during the quarter, compared to analyst estimates of $524.31 million. Sell-side analysts anticipate that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the purchase, the director now directly owns 17,738 shares of the company’s stock, valued at approximately $171,526.46. The trade was a 24.58 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the sale, the director now directly owns 17,225 shares in the company, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 80,808 shares of company stock valued at $785,274 and sold 40,085 shares valued at $843,378. Company insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Hedge funds have recently made changes to their positions in the business. Cetera Trust Company N.A boosted its holdings in Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ameresco by 1.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 747 shares during the period. Bank of New York Mellon Corp raised its stake in Ameresco by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider’s stock worth $2,389,000 after acquiring an additional 859 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Ameresco by 10.4% during the fourth quarter. MetLife Investment Management LLC now owns 20,535 shares of the utilities provider’s stock valued at $482,000 after acquiring an additional 1,930 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Ameresco by 6.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,273 shares of the utilities provider’s stock valued at $711,000 after purchasing an additional 1,967 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

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.