Ameresco (NYSE:AMRC) Trading Down 5.6% Following Analyst Downgrade

Posted by on Apr 27th, 2023

Ameresco, Inc. (NYSE:AMRC – Get Rating)’s stock price was down 5.6% during mid-day trading on Wednesday after B. Riley lowered their price target on the stock from $72.00 to $63.00. The company traded as low as $41.02 and last traded at $41.12. Approximately 142,752 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 350,656 shares. The stock had previously closed at $43.54.

Other analysts also recently issued reports about the stock. Robert W. Baird reduced their price target on shares of Ameresco from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Raymond James reduced their price objective on shares of Ameresco from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 5th. Oppenheimer reduced their price objective on shares of Ameresco from $76.00 to $64.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Craig Hallum cut their price target on shares of Ameresco from $82.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Finally, Roth Capital raised shares of Ameresco from a “sell” rating to a “neutral” rating and set a $44.00 price target for the company in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.79.

Hedge Funds Weigh In On Ameresco

Institutional investors have recently added to or reduced their stakes in the company. Ergoteles LLC acquired a new position in Ameresco during the third quarter worth $729,000. Otter Creek Advisors LLC increased its holdings in shares of Ameresco by 989.6% in the fourth quarter. Otter Creek Advisors LLC now owns 59,808 shares of the utilities provider’s stock valued at $3,417,000 after purchasing an additional 54,319 shares during the last quarter. Algert Global LLC increased its holdings in shares of Ameresco by 48.6% in the third quarter. Algert Global LLC now owns 38,047 shares of the utilities provider’s stock valued at $2,529,000 after purchasing an additional 12,441 shares during the last quarter. Guinness Asset Management LTD grew its stake in shares of Ameresco by 6.6% in the third quarter. Guinness Asset Management LTD now owns 496,962 shares of the utilities provider’s stock valued at $33,038,000 after acquiring an additional 30,709 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in Ameresco by 45.1% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 239,744 shares of the utilities provider’s stock worth $13,699,000 after acquiring an additional 74,502 shares during the period. 57.50% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Trading Down 6.0 %

The firm has a market capitalization of $2.13 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 0.99 and a beta of 1.28. The business’s 50-day moving average is $46.36 and its 200 day moving average is $55.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 1.22.

Ameresco (NYSE:AMRC – Get Rating) last released its earnings results on Monday, February 27th. The utilities provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). Ameresco had a net margin of 5.20% and a return on equity of 12.44%. The firm had revenue of $331.73 million during the quarter, compared to the consensus estimate of $365.63 million. During the same period in the prior year, the business earned $0.50 earnings per share. Ameresco’s quarterly revenue was down 20.2% compared to the same quarter last year. As a group, analysts anticipate that Ameresco, Inc. will post 1.82 EPS for the current fiscal year.

Ameresco Company Profile

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Ameresco, Inc engages in the provision of energy services, including energy efficiency, infrastructure upgrades, asset sustainability, and renewable energy solutions for businesses and organizations throughout North America and Europe. It operates through the following segments: U.S. Regions, U.S. Federal, Canada, Non-Solar Distributed Generation (DG), and All Other.

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