BidaskClub Downgrades Ameresco, Inc. (NYSE:AMRC) to Hold

BidaskClub downgraded shares of Ameresco, Inc. (NYSE:AMRC) from a buy rating to a hold rating in a research report released on Tuesday, July 11th.

A number of other brokerages have also commented on AMRC. Zacks Investment Research raised shares of Ameresco from a hold rating to a buy rating and set a $8.50 price objective for the company in a research report on Monday, July 3rd. Canaccord Genuity reissued a buy rating and issued a $8.00 target price on shares of Ameresco in a research note on Monday, May 1st. Finally, Roth Capital raised shares of Ameresco from a neutral rating to a buy rating and upped their target price for the company from $6.50 to $8.00 in a research note on Thursday, May 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $8.38.

Ameresco (NYSE:AMRC) traded down 5.04% on Tuesday, reaching $6.60. The company’s stock had a trading volume of 301,555 shares. The company has a market capitalization of $299.80 million, a price-to-earnings ratio of 29.46 and a beta of 1.17. Ameresco has a 1-year low of $4.51 and a 1-year high of $7.85. The stock has a 50 day moving average price of $7.01 and a 200-day moving average price of $6.19.

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

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In related news, insider Louis P. Maltezos sold 23,175 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $6.61, for a total value of $153,186.75. Following the sale, the insider now owns 23,175 shares of the company’s stock, valued at $153,186.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas S. Murley bought 4,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average cost of $6.85 per share, for a total transaction of $27,400.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at $27,400. The disclosure for this purchase can be found here. Insiders own 58.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake 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 buying an additional 395,566 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ameresco by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 850,929 shares of the utilities provider’s stock valued at $5,573,000 after buying an additional 60,657 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of 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. Russell Investments Group Ltd. purchased a new stake in shares of Ameresco during the fourth quarter valued at $188,000. Finally, Capital Impact Advisors LLC boosted its stake in shares of Ameresco by 14.1% in the first quarter. Capital Impact Advisors LLC now owns 199,395 shares of the utilities provider’s stock valued at $1,306,000 after buying an additional 24,673 shares in the last quarter. 22.27% of the stock is currently owned by hedge funds and other institutional investors.

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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