Ameresco, Inc. (NYSE:AMRC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a 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 also recently commented on AMRC. BidaskClub downgraded Ameresco from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Canaccord Genuity boosted their target price on Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Oppenheimer Holdings, Inc. set a $9.00 target price on Ameresco and gave the stock a “buy” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.25.

Shares of Ameresco (NYSE:AMRC) traded up 1.27% during mid-day trading on Tuesday, hitting $7.95. The company had a trading volume of 36,070 shares. Ameresco has a 12-month low of $4.60 and a 12-month high of $8.00. The firm’s 50 day moving average is $7.51 and its 200-day moving average is $6.92. The firm has a market cap of $361.94 million, a PE ratio of 26.41 and a beta of 1.14.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $162.53 million. Ameresco had a return on equity of 5.23% and a net margin of 2.16%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities analysts expect that Ameresco will post $0.42 EPS for the current year.

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In other Ameresco news, insider Joseph P. Demanche sold 4,220 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $7.80, for a total value of $32,916.00. Following the transaction, the insider now directly owns 200,000 shares of the company’s stock, valued at approximately $1,560,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 7,213 shares of company stock worth $56,860. Insiders own 58.36% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMRC. Susquehanna International Group LLP bought a new position in Ameresco in the second quarter valued at approximately $141,000. Parametric Portfolio Associates LLC increased its stake in Ameresco by 8.8% in the second quarter. Parametric Portfolio Associates LLC now owns 18,911 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 1,529 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Ameresco in the second quarter valued at approximately $148,000. Pillar Pacific Capital Management LLC bought a new position in Ameresco in the second quarter valued at approximately $151,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Ameresco in the second quarter valued at approximately $154,000. 23.83% of the stock is currently owned by institutional investors.

Ameresco Company Profile

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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