Ameresco (NYSE:AMRC) Hits New 52-Week Low - Here's Why

Ameresco, Inc. (NYSE:AMRC - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.00 and last traded at $9.56, with a volume of 194581 shares trading hands. The stock had previously closed at $9.28.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Ameresco from $42.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group reduced their target price on Ameresco from $36.00 to $27.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus lowered their price target on Ameresco from $34.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, UBS Group lowered shares of Ameresco from a "buy" rating to a "sell" rating and cut their price target for the company from $37.00 to $8.00 in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ameresco has a consensus rating of "Moderate Buy" and an average price target of $26.57.

Ameresco Price Performance

The business's 50 day moving average price is $13.96 and its 200-day moving average price is $22.89. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. The company has a market cap of $531.19 million, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.49 and a beta of 2.02.

Remove Ads

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.12. The firm had revenue of $532.67 million for the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. As a group, analysts forecast that Ameresco, Inc. will post 1.15 earnings per share for the current year.

Insider Buying and Selling at Ameresco

In related news, Director Francis V. Wisneski, Jr. bought 3,500 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $9.67 per share, with a total value of $33,845.00. Following the transaction, the director now owns 17,738 shares of the company's stock, valued at approximately $171,526.46. This trade represents a 24.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer L. Miller sold 40,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $21.06, for a total value of $842,400.00. Following the sale, the director now owns 17,225 shares in the company, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 80,808 shares of company stock worth $785,274 and sold 40,085 shares worth $843,378. 42.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. lifted its holdings in Ameresco by 731.8% in the first quarter. Harbor Capital Advisors Inc. now owns 230,705 shares of the utilities provider's stock worth $2,787,000 after purchasing an additional 202,970 shares during the period. Clean Yield Group lifted its stake in shares of Ameresco by 6.3% in the 1st quarter. Clean Yield Group now owns 112,746 shares of the utilities provider's stock worth $1,362,000 after acquiring an additional 6,718 shares during the period. Vanguard Capital Wealth Advisors acquired a new stake in shares of Ameresco in the 1st quarter worth approximately $211,000. GAMMA Investing LLC boosted its holdings in shares of Ameresco by 132.0% in the first quarter. GAMMA Investing LLC now owns 8,009 shares of the utilities provider's stock valued at $97,000 after acquiring an additional 4,557 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ameresco by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,684 shares of the utilities provider's stock valued at $2,106,000 after acquiring an additional 13,127 shares during the period. 99.24% of the stock is 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.