Ameresco (NYSE:AMRC) Stock Gets Price Target Cut from Canaccord Genuity Group

Ameresco (NYSE:AMRC) had its target price trimmed by Canaccord Genuity Group from $62.00 to $61.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

AMRC has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Ameresco from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. BNP Paribas Exane upgraded shares of Ameresco from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $40.00 in a report on Tuesday, August 4th. UBS Group lifted their price objective on shares of Ameresco from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Ameresco in a report on Tuesday, November 3rd. Finally, Jefferies Financial Group raised Ameresco to a “strong-buy” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.71.

Ameresco Stock Down 1.6%

Ameresco stock opened at $25.48 on Wednesday. Ameresco has a twelve month low of $18.09 and a twelve month high of $37.14. The stock’s fifty day simple moving average is $21.78 and its 200-day simple moving average is $26.07. The company has a current ratio of 1.65, a quick ratio of 1.66 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.35 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.46 and a beta of 2.50.

Ameresco (NYSE:AMRC) last released its earnings results on Monday, November 9th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.31. Ameresco had a return on equity of 4.68% and a net margin of 2.01%. The firm had revenue of $580.32 million during the quarter, compared to analyst estimates of $572.89 million. During the same period last year, the business posted $0.35 earnings per share. Ameresco’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that Ameresco will post 1.61 earnings per share for the current fiscal year.

Insider Activity at Ameresco

In related news, CEO George Sakellaris bought 5,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $20.91 per share, with a total value of $104,550.00. Following the transaction, the chief executive officer owned 1,000,597 shares of the company’s stock, valued at approximately $20,922,483.27. This trade represents a 0.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Sutton acquired 9,700 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average cost of $20.87 per share, with a total value of $202,439.00. Following the completion of the acquisition, the director owned 80,246 shares of the company’s stock, valued at $1,674,734.02. The trade was a 13.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 29,325 shares of company stock valued at $628,664 in the last 90 days. 45.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameresco

A number of large investors have recently made changes to their positions in AMRC. Marshall Wace LLP acquired a new position in shares of Ameresco during the 3rd quarter worth $1,108,000. Advisors Asset Management Inc. acquired a new position in Ameresco during the third quarter valued at approximately $92,000. Global Retirement Partners LLC bought a new position in shares of Ameresco in the third quarter valued at approximately $55,000. Royce & Associates LP raised its position in shares of Ameresco by 10.2% in the third quarter. Royce & Associates LP now owns 1,100,165 shares of the utilities provider’s stock valued at $22,784,000 after purchasing an additional 101,982 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Ameresco by 9.6% in the third quarter. Russell Investments Group Ltd. now owns 192,625 shares of the utilities provider’s stock worth $3,989,000 after buying an additional 16,870 shares during the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

More Ameresco News

Here’s some of the latest news about AMRC:

• Positive Sentiment: Ameresco secured a $125 million financing facility from Nuveen to support growth in Europe, providing capital for expansion. Article: Ameresco secures $125 million financing facility
• Positive Sentiment: Some analysts remain optimistic: Canaccord set a $61 price target, and Cantor Fitzgerald maintained its Buy rating. Article: Canaccord price target Article: Cantor Fitzgerald Buy rating
• Negative Sentiment: A report said analysts cut their fair-value assessment and turned cautious over project timing, a concern that could delay expected revenue or cash flows. Stifel also lowered its price target to $37. Article: Analysts cautious on project timing Article: Stifel cuts price target

Ameresco Company Profile

Ameresco, Inc. is a clean-energy and energy-efficiency company that develops, designs, builds, and operates projects for public- and private-sector customers. Its clients include federal, state and local government agencies, schools, healthcare organizations, utilities, and commercial and industrial businesses. The company’s services include improving the energy performance of buildings and infrastructure, developing renewable-energy projects, and providing distributed energy systems, microgrids, energy storage, and related operations and maintenance.