Ameresco (NYSE:AMRC) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Ameresco (NYSE:AMRC) to a sell rating in a research note released on Monday.

AMRC has been the topic of a number of other reports. Stifel Nicolaus decreased their price objective on Ameresco from $35.00 to $32.00 and set a buy rating on the stock in a report on Thursday, May 9th. Piper Sandler cut their price objective on Ameresco from $32.00 to $30.00 and set an overweight rating on the stock in a research report on Thursday, April 11th. BNP Paribas raised Ameresco from a neutral rating to an outperform rating and set a $34.00 target price on the stock in a report on Tuesday, March 12th. Oppenheimer reaffirmed a market perform rating on shares of Ameresco in a report on Wednesday, April 17th. Finally, Raymond James dropped their price objective on Ameresco from $40.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $40.31.

Ameresco Price Performance

NYSE:AMRC opened at $26.00 on Monday. Ameresco has a 12 month low of $17.55 and a 12 month high of $63.19. The stock has a 50 day moving average of $29.68 and a two-hundred day moving average of $25.74. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.36 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.78.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $298.41 million during the quarter, compared to analyst estimates of $255.38 million. Ameresco had a return on equity of 6.67% and a net margin of 4.17%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, analysts expect that Ameresco will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark Chiplock sold 3,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $35.00, for a total transaction of $105,000.00. Following the completion of the sale, the chief accounting officer now directly owns 348 shares of the company’s stock, valued at approximately $12,180. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 42.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameresco

Several large investors have recently modified their holdings of the stock. Deutsche Bank AG increased its stake in shares of Ameresco by 16.6% in the third quarter. Deutsche Bank AG now owns 17,058 shares of the utilities provider’s stock valued at $658,000 after purchasing an additional 2,426 shares during the period. Rhumbline Advisers boosted its holdings in shares of Ameresco by 1.0% in the third quarter. Rhumbline Advisers now owns 44,866 shares of the utilities provider’s stock valued at $1,730,000 after acquiring an additional 465 shares in the last quarter. Toroso Investments LLC bought a new position in shares of Ameresco in the third quarter valued at approximately $762,000. Ashford Capital Management Inc. bought a new position in shares of Ameresco in the third quarter valued at approximately $7,858,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Ameresco by 17.8% in the third quarter. Wellington Management Group LLP now owns 1,169,158 shares of the utilities provider’s stock valued at $45,083,000 after acquiring an additional 176,971 shares in the last quarter. Institutional investors own 99.24% of the company’s stock.

About Ameresco

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.