Ameresco (NYSE:AMRC) Shares Gap Down – Should You Sell?

Ameresco, Inc. (NYSE:AMRC)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $10.09, but opened at $9.73. Ameresco shares last traded at $9.98, with a volume of 36,885 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canaccord Genuity Group cut their price objective on Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, February 28th. UBS Group lowered Ameresco from a “buy” rating to a “sell” rating and cut their price target for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Stifel Nicolaus lowered their price objective on shares of Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $13.00 target price (down from $25.00) on shares of Ameresco in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.86.

Ameresco Price Performance

The stock has a market cap of $519.58 million, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.49 and a beta of 2.02. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $13.76 and its two-hundred day simple moving average is $22.69.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. The company had revenue of $532.67 million for the quarter, compared to analyst estimates of $524.31 million. On average, analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO George P. Sakellaris acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $9.27 per share, with a total value of $231,750.00. Following the completion of the purchase, the chief executive officer now directly owns 978,638 shares of the company’s stock, valued at $9,071,974.26. The trade was a 2.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Francis V. Wisneski, Jr. purchased 3,500 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $9.67 per share, with a total value of $33,845.00. Following the acquisition, the director now directly owns 17,738 shares in the company, valued at $171,526.46. This represents a 24.58 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 80,808 shares of company stock valued at $785,274 and sold 40,085 shares valued at $843,378. 42.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameresco

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in Ameresco by 124.4% during the 4th quarter. First Trust Advisors LP now owns 838,258 shares of the utilities provider’s stock worth $19,682,000 after buying an additional 464,737 shares during the period. DnB Asset Management AS raised its position in shares of Ameresco by 59.6% during the fourth quarter. DnB Asset Management AS now owns 613,430 shares of the utilities provider’s stock worth $14,403,000 after acquiring an additional 229,128 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Ameresco by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,159,757 shares of the utilities provider’s stock worth $27,230,000 after acquiring an additional 214,918 shares during the period. Harbor Capital Advisors Inc. increased its position in Ameresco by 731.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider’s stock valued at $2,787,000 after purchasing an additional 202,970 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Ameresco by 87.7% during the 4th quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after purchasing an additional 196,776 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.

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.