Ameresco (AMRC) Stock Rating Lowered by Zacks Investment Research

Ameresco (NYSE:AMRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “

Several other research analysts also recently issued reports on AMRC. Roth Capital upgraded shares of Ameresco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $16.00 to $19.00 in a report on Monday, March 4th. Canaccord Genuity boosted their price objective on shares of Ameresco from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, B. Riley restated a “buy” rating and set a $19.00 price objective (up previously from $17.50) on shares of Ameresco in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.50.

Shares of AMRC opened at $15.12 on Wednesday. The firm has a market capitalization of $694.30 million, a P/E ratio of 18.67, a PEG ratio of 1.09 and a beta of 0.54. Ameresco has a one year low of $11.00 and a one year high of $18.05. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 0.58.

Ameresco (NYSE:AMRC) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $150.10 million for the quarter, compared to the consensus estimate of $150.29 million. Ameresco had a net margin of 4.57% and a return on equity of 8.54%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, research analysts expect that Ameresco will post 0.79 EPS for the current fiscal year.

In other news, insider David Anderson sold 7,819 shares of the business’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $15.50, for a total transaction of $121,194.50. Following the transaction, the insider now owns 242,181 shares in the company, valued at approximately $3,753,805.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David J. Corrsin sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $16.50, for a total transaction of $33,000.00. Following the transaction, the executive vice president now owns 1,097,372 shares in the company, valued at approximately $18,106,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,701 shares of company stock worth $3,988,526. Insiders own 57.93% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in Ameresco in the fourth quarter valued at about $25,000. BNP Paribas Arbitrage SA increased its stake in Ameresco by 508.8% in the first quarter. BNP Paribas Arbitrage SA now owns 3,945 shares of the utilities provider’s stock valued at $64,000 after acquiring an additional 3,297 shares during the period. Advisor Group Inc. bought a new stake in Ameresco in the fourth quarter valued at about $75,000. Metropolitan Life Insurance Co. NY bought a new stake in Ameresco in the fourth quarter valued at about $99,000. Finally, MetLife Investment Advisors LLC bought a new stake in Ameresco in the fourth quarter valued at about $136,000. 29.89% of the stock is currently owned by institutional investors and hedge funds.

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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