Ameresco, Inc. (NYSE:AMRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, August 7th.
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 brokerages have also issued reports on AMRC. BidaskClub lowered Ameresco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Roth Capital raised Ameresco from a “neutral” rating to a “buy” rating and upped their target price for the stock from $6.50 to $8.00 in a research note on Thursday, May 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $8.00 target price on shares of Ameresco in a research note on Monday, May 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $8.25.
Ameresco (NYSE:AMRC) traded up 0.72% during midday trading on Monday, hitting $7.00. 59,293 shares of the stock were exchanged. The company has a market capitalization of $318.69 million, a P/E ratio of 23.26 and a beta of 1.14. The company’s 50 day moving average is $6.84 and its 200 day moving average is $6.38. Ameresco has a 1-year low of $4.51 and a 1-year high of $7.85.
Ameresco (NYSE:AMRC) last issued its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.06. Ameresco had a return on equity of 5.23% and a net margin of 2.16%. The company had revenue of $166.70 million during the quarter, compared to analyst estimates of $162.53 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Ameresco’s revenue was up 2.5% on a year-over-year basis. Analysts predict that Ameresco will post $0.42 earnings per share for the current fiscal year.
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In other Ameresco news, insider Louis P. Maltezos sold 23,175 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $6.61, for a total value of $153,186.75. Following the completion of the sale, the insider now owns 23,175 shares of the company’s stock, valued at $153,186.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 58.36% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Ameresco by 0.3% in the first quarter. Bank of America Corp DE now owns 39,176 shares of the utilities provider’s stock worth $257,000 after buying an additional 136 shares during the period. Clean Yield Group raised its stake in Ameresco by 0.4% in the first quarter. Clean Yield Group now owns 85,705 shares of the utilities provider’s stock worth $561,000 after buying an additional 300 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Ameresco by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 62,590 shares of the utilities provider’s stock worth $482,000 after buying an additional 380 shares during the period. Bank of New York Mellon Corp raised its stake in Ameresco by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 121,189 shares of the utilities provider’s stock worth $794,000 after buying an additional 773 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Ameresco by 4.3% in the second quarter. Janney Montgomery Scott LLC now owns 22,676 shares of the utilities provider’s stock worth $175,000 after buying an additional 928 shares during the period. 22.10% of the stock is owned by hedge funds and other institutional investors.
Ameresco Company Profile
Ameresco, Inc (Ameresco) is a provider of a range of energy services, including energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include capital and operational upgrades to a facility’s energy infrastructure and the development, construction, ownership and operation of renewable energy plants.
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