Ameresco (NYSE:AMRC) Trading Down 2.7% Following Analyst Downgrade

Ameresco, Inc. (NYSE:AMRC)’s share price dropped 2.7% on Thursday after Piper Sandler lowered their price target on the stock from $32.00 to $30.00. Piper Sandler currently has an overweight rating on the stock. Ameresco traded as low as $22.34 and last traded at $22.49. Approximately 34,927 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 534,873 shares. The stock had previously closed at $23.12.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group dropped their price target on Ameresco from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Bank of America cut Ameresco from a “buy” rating to a “neutral” rating and upped their price target for the stock from $29.00 to $37.00 in a report on Friday, December 15th. B. Riley lowered their price target on Ameresco from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Guggenheim restated a “neutral” rating on shares of Ameresco in a report on Thursday, February 29th. Finally, BNP Paribas upgraded Ameresco from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Tuesday, March 12th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Institutional Investors Weigh In On Ameresco

A number of institutional investors and hedge funds have recently bought and sold shares of AMRC. International Assets Investment Management LLC purchased a new position in shares of Ameresco during the 3rd quarter worth $28,000. Tower Research Capital LLC TRC lifted its stake in shares of Ameresco by 302.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 849 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 638 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Ameresco during the 1st quarter worth $50,000. Quest Partners LLC purchased a new position in shares of Ameresco during the 4th quarter worth $62,000. Finally, Cetera Trust Company N.A purchased a new position in shares of Ameresco during the 4th quarter worth $106,000. Hedge funds and other institutional investors own 99.24% of the company’s stock.

Ameresco Trading Down 2.1 %

The company has a market cap of $1.18 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 0.66 and a beta of 1.56. The business has a 50 day simple moving average of $21.63 and a two-hundred day simple moving average of $26.67. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 1.26.

Ameresco (NYSE:AMRC) last issued its earnings results on Wednesday, February 28th. The utilities provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. The business had revenue of $441.40 million for the quarter, compared to analyst estimates of $399.98 million. Ameresco had a return on equity of 7.49% and a net margin of 4.54%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. On average, analysts forecast that Ameresco, Inc. will post 1.4 EPS for the current fiscal year.

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.