Ameresco (NYSE:AMRC) Sets New 52-Week Low on Analyst Downgrade

Shares of Ameresco, Inc. (NYSE:AMRC - Get Free Report) hit a new 52-week low during mid-day trading on Friday after UBS Group downgraded the stock from a buy rating to a sell rating. UBS Group now has a $8.00 price target on the stock, down from their previous price target of $37.00. Ameresco traded as low as $13.04 and last traded at $12.90, with a volume of 156877 shares. The stock had previously closed at $18.33.

AMRC has been the topic of several other reports. StockNews.com upgraded Ameresco to a "sell" rating in a report on Tuesday, November 12th. Robert W. Baird lowered their price target on Ameresco from $42.00 to $25.00 and set an "outperform" rating on the stock in a research note on Friday. Stifel Nicolaus increased their price objective on Ameresco from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, Canaccord Genuity Group decreased their price objective on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ameresco has an average rating of "Moderate Buy" and an average price target of $30.11.

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Insiders Place Their Bets

In related news, Director Jennifer L. Miller sold 40,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the completion of the sale, the director now directly owns 17,225 shares in the company, valued at approximately $362,758.50. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 42.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameresco

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

Ameresco Stock Down 9.8 %

The business has a 50-day moving average of $21.82 and a 200-day moving average of $27.39. 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 stock has a market capitalization of $499.52 million, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.49 and a beta of 1.79.

Ameresco (NYSE:AMRC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The business had revenue of $532.67 million during the quarter, compared to analysts' expectations of $524.31 million. On average, sell-side analysts expect that Ameresco, Inc. will post 1.15 EPS for the current year.

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.