Ameresco (NYSE:AMRC) Price Target Lowered to $18.00 at Stifel Nicolaus

Ameresco (NYSE:AMRC - Get Free Report) had its price objective reduced by investment analysts at Stifel Nicolaus from $34.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the utilities provider's stock. Stifel Nicolaus' target price would suggest a potential upside of 61.99% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group downgraded shares of Ameresco from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $37.00 to $8.00 in a report on Tuesday, March 4th. Canaccord Genuity Group cut their price target on shares of Ameresco from $36.00 to $27.00 and set a "buy" rating for the company in a report on Friday, February 28th. StockNews.com raised shares of Ameresco to a "sell" rating in a report on Tuesday, November 12th. Finally, Robert W. Baird cut their price target on shares of Ameresco from $42.00 to $25.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Two 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 stock. Based on data from MarketBeat, Ameresco currently has an average rating of "Moderate Buy" and a consensus target price of $28.33.

Remove Ads

Ameresco Price Performance

AMRC stock traded up $1.82 during trading on Wednesday, hitting $11.11. The company had a trading volume of 1,991,361 shares, compared to its average volume of 628,304. The firm has a market capitalization of $582.75 million, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.49 and a beta of 2.07. The business has a 50 day moving average of $20.74 and a 200 day moving average of $26.88. Ameresco has a fifty-two week low of $9.04 and a fifty-two week high of $39.68. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.

Ameresco (NYSE:AMRC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The business had revenue of $532.67 million during 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, research analysts predict that Ameresco will post 1.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jennifer L. Miller sold 40,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the transaction, the director now owns 17,225 shares in the company, valued at $362,758.50. This represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George P. Sakellaris bought 50,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $9.96 per share, for a total transaction of $498,000.00. Following the acquisition, the chief executive officer now directly owns 903,638 shares in the company, valued at $9,000,234.48. This trade represents a 5.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 80,408 shares of company stock worth $781,206. Company insiders own 42.00% of the company's stock.

Hedge Funds Weigh In On Ameresco

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Ameresco by 1,294.9% in 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. FMR LLC increased its holdings in shares of Ameresco by 257.9% in the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider's stock valued at $203,000 after purchasing an additional 3,855 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Ameresco in the 4th quarter valued at about $146,000. Cetera Trust Company N.A increased its holdings in shares of Ameresco by 6.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider's stock valued at $160,000 after purchasing an additional 440 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Ameresco in the 3rd quarter valued at approximately $275,000. Institutional investors and hedge funds own 99.24% of the company's stock.

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.