Ameresco (NYSE:AMRC – Get Free Report) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
AMRC has been the subject of several other research reports. Canaccord Genuity Group dropped their price target on shares of 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 shares of Ameresco from a “buy” rating to a “sell” rating and reduced their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Stifel Nicolaus decreased their price target on Ameresco from $34.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $13.00 price target (down previously from $25.00) on shares of Ameresco in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ameresco has an average rating of “Hold” and an average price target of $24.86.
Get Our Latest Analysis on Ameresco
Ameresco Stock Performance
Ameresco (NYSE:AMRC – Get Free Report) 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. The company had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. On average, research analysts predict that Ameresco will post 1.15 EPS for the current year.
Insider Transactions at Ameresco
In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the transaction, the director now owns 17,225 shares in the company, valued at approximately $362,758.50. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George P. Sakellaris acquired 25,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief executive officer now owns 978,638 shares in the company, valued at approximately $9,071,974.26. This represents a 2.62 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 80,808 shares of company stock worth $785,274 and have sold 40,085 shares worth $843,378. Corporate insiders own 42.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of AMRC. First Eagle Investment Management LLC grew its position in Ameresco by 87.7% during the fourth quarter. First Eagle Investment Management LLC now owns 421,136 shares of the utilities provider’s stock worth $9,888,000 after buying an additional 196,776 shares in the last quarter. Barclays PLC boosted its holdings in shares of Ameresco by 204.2% during the third quarter. Barclays PLC now owns 59,248 shares of the utilities provider’s stock worth $2,248,000 after purchasing an additional 39,773 shares during the period. Victory Capital Management Inc. lifted its stake in Ameresco by 96.8% in the fourth quarter. Victory Capital Management Inc. now owns 45,137 shares of the utilities provider’s stock worth $1,060,000 after acquiring an additional 22,197 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ameresco by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,184,264 shares of the utilities provider’s stock valued at $74,767,000 after purchasing an additional 37,359 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of Ameresco by 32.2% during the fourth quarter. Trexquant Investment LP now owns 225,269 shares of the utilities provider’s stock valued at $5,289,000 after buying an additional 54,868 shares during the period. 99.24% of the stock is owned by institutional investors.
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.
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