Ameresco, Inc. (NYSE:AMRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “

Several other research analysts have also recently commented on the company. Roth Capital raised Ameresco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $6.50 to $8.00 in a research note on Thursday, May 4th. Canaccord Genuity reissued a “buy” rating and set a $8.00 target price on shares of Ameresco in a research note on Monday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $8.38.

Shares of Ameresco (AMRC) traded down 1.95% during midday trading on Tuesday, hitting $7.55. The company had a trading volume of 55,993 shares. The firm has a market capitalization of $342.95 million, a PE ratio of 33.71 and a beta of 1.17. Ameresco has a 12 month low of $4.35 and a 12 month high of $7.85. The company has a 50-day moving average of $6.87 and a 200 day moving average of $6.08.

Ameresco (NYSE:AMRC) last released its earnings results on Tuesday, May 2nd. The utilities provider reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Ameresco had a return on equity of 4.52% and a net margin of 1.58%. The company had revenue of $134.61 million for the quarter, compared to analyst estimates of $131.95 million. On average, analysts expect that Ameresco will post $0.39 EPS for the current fiscal year.

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In other news, insider Louis P. Maltezos sold 23,175 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $6.15, for a total transaction of $142,526.25. Following the completion of the transaction, the insider now directly owns 23,175 shares of the company’s stock, valued at approximately $142,526.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas S. Murley acquired 4,000 shares of the stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $6.85 per share, with a total value of $27,400.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $27,400. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 69,525 shares of company stock valued at $449,827. Insiders own 58.36% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Ameresco during the fourth quarter valued at about $188,000. State Street Corp boosted its position in Ameresco by 3.3% in the fourth quarter. State Street Corp now owns 316,414 shares of the utilities provider’s stock valued at $1,741,000 after buying an additional 10,114 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ameresco by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 790,272 shares of the utilities provider’s stock valued at $4,347,000 after buying an additional 40,042 shares in the last quarter. Renaissance Technologies LLC boosted its position in Ameresco by 26.0% in the fourth quarter. Renaissance Technologies LLC now owns 230,588 shares of the utilities provider’s stock valued at $1,268,000 after buying an additional 47,588 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in Ameresco by 4.0% in the fourth quarter. Two Sigma Investments LP now owns 62,305 shares of the utilities provider’s stock valued at $343,000 after buying an additional 2,372 shares in the last quarter. 22.27% of the stock is owned by institutional investors and hedge funds.

About Ameresco

Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.

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