Ameresco (NYSE:AMRC) Trading Down 14.9% – Here’s Why

07 Nov 2024, 02:03 by Mitch Edgeman · The Markets Daily

Ameresco, Inc. (NYSE:AMRC – Get Free Report) shares were down 14.9% during trading on Wednesday . The stock traded as low as $30.07 and last traded at $30.11. Approximately 57,153 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 467,818 shares. The stock had previously closed at $35.40.

Analyst Upgrades and Downgrades

AMRC has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of Ameresco from $32.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. StockNews.com raised Ameresco to a “sell” rating in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Ameresco in a research note on Wednesday, September 4th. They set a “hold” rating and a $33.00 price target on the stock. UBS Group upped their price objective on shares of Ameresco from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, Piper Sandler raised their price objective on Ameresco from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameresco presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.73.

Read Our Latest Analysis on Ameresco

Ameresco Stock Down 9.2 %

The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $33.30 and a two-hundred day simple moving average of $30.78. The stock has a market capitalization of $1.68 billion, a P/E ratio of 28.14, a PEG ratio of 1.12 and a beta of 1.82.

Ameresco (NYSE:AMRC – Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.15). The firm had revenue of $437.98 million for the quarter, compared to analyst estimates of $373.75 million. Ameresco had a return on equity of 6.25% and a net margin of 3.77%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. Equities research analysts forecast that Ameresco, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ameresco news, CFO Spencer Doran Hole sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.53, for a total transaction of $132,650.00. Following the transaction, the chief financial officer now owns 1,878 shares of the company’s stock, valued at approximately $49,823.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,221 shares of company stock worth $140,814 in the last 90 days. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Ameresco

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in Ameresco by 100.3% during the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after buying an additional 391 shares during the last quarter. nVerses Capital LLC acquired a new position in Ameresco in the second quarter valued at about $75,000. Point72 DIFC Ltd bought a new stake in shares of Ameresco in the second quarter worth about $86,000. GAMMA Investing LLC raised its position in shares of Ameresco by 1,215.2% during the second quarter. GAMMA Investing LLC now owns 3,117 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 2,880 shares during the period. Finally, SG Americas Securities LLC bought a new position in Ameresco in the second quarter valued at approximately $156,000. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

(Get Free Report)