Ameresco (NYSE:AMRC) Hits New 12-Month Low – Should You Sell?

Ameresco, Inc. (NYSE:AMRC)’s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $18.09 and last traded at $19.0150, with a volume of 297,125 shares traded. The stock had previously closed at $21.25.

Analyst Upgrades and Downgrades

AMRC has been the subject of several recent research reports. Jefferies Financial Group raised Ameresco to a “strong-buy” rating in a research note on Thursday, September 3rd. Canaccord Genuity Group lifted their target price on shares of Ameresco from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. BNP Paribas Exane raised shares of Ameresco from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $40.00 in a report on Tuesday, August 4th. Wall Street Zen raised shares of Ameresco from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. Finally, Robert W. Baird cut shares of Ameresco from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $32.00 in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.00.

Ameresco Trading Down 10.3%

The company has a current ratio of 1.67, a quick ratio of 1.66 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average price of $21.54 and a two-hundred day moving average price of $26.36. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 1.66 and a beta of 2.50.

Ameresco (NYSE:AMRC) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Ameresco had a return on equity of 2.82% and a net margin of 1.40%. The firm had revenue of $515.46 million during the quarter, compared to analysts’ expectations of $465.18 million. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Ameresco, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer L. Miller purchased 2,000 shares of Ameresco stock in a transaction dated Monday, August 24th. The shares were acquired at an average price of $20.96 per share, for a total transaction of $41,920.00. Following the acquisition, the director directly owned 34,546 shares in the company, valued at approximately $724,084.16. The trade was a 6.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph W. Sutton purchased 9,700 shares of the stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $20.87 per share, for a total transaction of $202,439.00. Following the transaction, the director owned 80,246 shares in the company, valued at approximately $1,674,734.02. The trade was a 13.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 75,025 shares of company stock valued at $1,778,963 in the last quarter. Corporate insiders own 45.10% of the company’s stock.

Institutional Investors Weigh In On Ameresco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Ameresco by 458.8% during the third quarter. Farther Finance Advisors LLC now owns 1,263 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,037 shares during the period. Fifth Third Bancorp acquired a new position in Ameresco in the 1st quarter valued at about $44,000. Optiver Holding B.V. grew its stake in shares of Ameresco by 550.8% in the 1st quarter. Optiver Holding B.V. now owns 2,369 shares of the utilities provider’s stock valued at $60,000 after buying an additional 2,005 shares during the period. Fulcrum Asset Management LLP grew its stake in shares of Ameresco by 217.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 6,672 shares of the utilities provider’s stock valued at $140,000 after buying an additional 4,568 shares during the period. Finally, Northside Capital Management LLC purchased a new stake in shares of Ameresco in the 2nd quarter valued at approximately $207,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

Ameresco, Inc (NYSE:AMRC) is an energy solutions and renewable energy company that develops, designs, constructs, and operates energy efficiency and infrastructure projects. Its services help public- and private-sector organizations reduce energy consumption, improve facility performance, and transition to lower-carbon energy sources.

The company’s offerings include energy-as-a-service programs, energy audits and efficiency upgrades, solar power systems, battery energy storage, microgrids, distributed energy resources, LED lighting, heating and cooling systems, and renewable natural gas projects.