Ameresco (NYSE:AMRC) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Ameresco (NYSE:AMRC) from a buy rating to a hold rating in a report released on Thursday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Ameresco from a buy rating to a hold rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ameresco has a consensus rating of Buy and a consensus target price of $18.50.

Shares of AMRC stock traded down $0.07 during trading on Thursday, hitting $14.10. The company had a trading volume of 135,127 shares, compared to its average volume of 122,459. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. The business’s 50-day simple moving average is $14.40. The firm has a market cap of $693.65 million, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.05 and a beta of 0.52. Ameresco has a 52 week low of $11.73 and a 52 week high of $18.05.

Ameresco (NYSE:AMRC) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $150.10 million for the quarter, compared to analysts’ expectations of $150.29 million. Ameresco had a net margin of 4.57% and a return on equity of 8.44%. Ameresco’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. On average, research analysts anticipate that Ameresco will post 0.78 EPS for the current fiscal year.

In related news, Director Nickolas Stavropoulos acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $15.19 per share, for a total transaction of $60,760.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $60,760. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 55.86% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its stake in Ameresco by 14.7% in the second quarter. Handelsbanken Fonder AB now owns 618,896 shares of the utilities provider’s stock worth $9,116,000 after buying an additional 79,146 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Ameresco in the first quarter worth approximately $396,000. Metropolitan Life Insurance Co. NY purchased a new stake in Ameresco in the fourth quarter worth approximately $99,000. Northern Trust Corp boosted its stake in Ameresco by 9.4% in the fourth quarter. Northern Trust Corp now owns 228,344 shares of the utilities provider’s stock worth $3,220,000 after buying an additional 19,662 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Ameresco by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 195,727 shares of the utilities provider’s stock worth $2,759,000 after buying an additional 12,812 shares in the last quarter. Institutional investors own 29.10% of the company’s stock.

About Ameresco

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

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