Ameresco (NYSE:AMRC) Shares Down 6.7% – Here’s Why

Ameresco, Inc. (NYSE:AMRC)’s share price dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $32.06 and last traded at $32.60. Approximately 72,662 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 471,958 shares. The stock had previously closed at $34.94.

Wall Street Analyst Weigh In

AMRC has been the subject of a number of recent research reports. UBS Group upped their price target on Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Robert W. Baird increased their target price on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Piper Sandler decreased their target price on shares of Ameresco from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. StockNews.com raised shares of Ameresco to a “sell” rating in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on Ameresco in a report on Wednesday, September 4th. They issued a “hold” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.08.

Ameresco Stock Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a 50-day moving average price of $32.42 and a 200-day moving average price of $29.78. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 1.21 and a beta of 1.79.

Ameresco (NYSE:AMRC) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). Ameresco had a net margin of 3.77% and a return on equity of 6.25%. The business had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. During the same period in the prior year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 33.9% compared to the same quarter last year. As a group, analysts forecast that Ameresco, Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Ameresco

In other Ameresco 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 5,221 shares of company stock worth $140,814. Insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Several institutional investors and hedge funds have recently modified their holdings of AMRC. Vanguard Group Inc. boosted its holdings in Ameresco by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,145,838 shares of the utilities provider’s stock valued at $75,909,000 after purchasing an additional 36,303 shares during the period. LGT Group Foundation bought a new stake in shares of Ameresco in the second quarter valued at approximately $20,325,000. Swedbank AB acquired a new stake in Ameresco during the first quarter worth approximately $12,065,000. Point72 Asset Management L.P. bought a new position in Ameresco during the 2nd quarter worth $10,821,000. Finally, Redwood Grove Capital LLC acquired a new position in Ameresco in the 1st quarter valued at $7,170,000. 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.