BidaskClub Downgrades Ameresco, Inc. (AMRC) to Sell
Ameresco, Inc. (NYSE:AMRC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
A number of other brokerages have also recently commented on AMRC. Zacks Investment Research cut Ameresco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Oppenheimer Holdings, Inc. set a $9.00 price objective on Ameresco and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Canaccord Genuity lifted their price objective on Ameresco from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.25.
Shares of Ameresco (NYSE:AMRC) traded down 0.65% during mid-day trading on Friday, hitting $7.70. The stock had a trading volume of 27,721 shares. Ameresco has a 12-month low of $4.60 and a 12-month high of $8.00. The stock has a market cap of $350.56 million, a price-to-earnings ratio of 25.58 and a beta of 1.15. The firm’s 50-day moving average price is $7.66 and its 200 day moving average price is $7.01.
Ameresco (NYSE:AMRC) last released its earnings results on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $162.53 million. Ameresco had a return on equity of 5.23% and a net margin of 2.16%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Equities analysts forecast that Ameresco will post $0.42 EPS for the current fiscal year.
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In other Ameresco news, insider Joseph P. Demanche sold 4,220 shares of Ameresco stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $7.80, for a total transaction of $32,916.00. Following the transaction, the insider now directly owns 200,000 shares in the company, valued at $1,560,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 7,213 shares of company stock worth $56,860. Corporate insiders own 58.36% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Gagnon Advisors LLC lifted its holdings in shares of Ameresco by 0.3% in the second quarter. Gagnon Advisors LLC now owns 932,445 shares of the utilities provider’s stock valued at $7,180,000 after purchasing an additional 2,345 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ameresco by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 901,970 shares of the utilities provider’s stock valued at $6,945,000 after purchasing an additional 51,041 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ameresco by 491.4% in the first quarter. Wellington Management Group LLP now owns 476,068 shares of the utilities provider’s stock valued at $3,118,000 after purchasing an additional 395,566 shares in the last quarter. State Street Corp lifted its holdings in shares of Ameresco by 6.3% in the second quarter. State Street Corp now owns 336,858 shares of the utilities provider’s stock valued at $2,593,000 after purchasing an additional 20,094 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Ameresco in the second quarter valued at about $2,410,000. Hedge funds and other institutional investors own 23.83% of the company’s stock.
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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