Canaccord Genuity Group Issues Pessimistic Forecast for Ameresco (NYSE:AMRC) Stock Price

Ameresco (NYSE:AMRC - Free Report) had its price target reduced by Canaccord Genuity Group from $36.00 to $27.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the utilities provider's stock.

A number of other research analysts also recently commented on the company. UBS Group lowered their target price on Ameresco from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird lowered their price target on Ameresco from $42.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday. Stifel Nicolaus raised their price objective on shares of Ameresco from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Ameresco to a "sell" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.11.

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Ameresco Stock Down 9.8 %

Shares of NYSE AMRC traded down $1.04 during mid-day trading on Friday, reaching $9.53. The company had a trading volume of 2,144,316 shares, compared to its average volume of 555,881. The stock has a fifty day moving average of $21.82 and a two-hundred day moving average of $27.39. Ameresco has a 12-month low of $9.39 and a 12-month high of $39.68. The company has a market capitalization of $499.52 million, a price-to-earnings ratio of 9.53, a PEG ratio of 0.49 and a beta of 1.79. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27.

Ameresco (NYSE:AMRC - Get Free Report) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $532.67 million during the quarter, compared to the consensus estimate of $524.31 million. As a group, equities research analysts expect that Ameresco will post 1.15 EPS for the current year.

Insider Activity

In related news, Director Jennifer L. Miller sold 40,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $362,758.50. This represents a 69.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 42.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Ameresco by 100.3% in the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 391 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Ameresco by 1,294.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider's stock valued at $93,000 after purchasing an additional 2,279 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Ameresco in the 4th quarter valued at approximately $146,000. Cetera Trust Company N.A increased its position in Ameresco by 6.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock worth $160,000 after buying an additional 440 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Ameresco by 145.0% during the fourth quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider's stock worth $172,000 after buying an additional 4,362 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company's stock.

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.