Ameresco (NYSE:AMRC) Cut to "Sell" at Wall Street Zen

Wall Street Zen lowered shares of Ameresco (NYSE:AMRC - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other brokerages have also commented on AMRC. UBS Group restated a "sell" rating and issued a $11.00 price target on shares of Ameresco in a research note on Tuesday, June 3rd. Canaccord Genuity Group raised their price objective on shares of Ameresco from $27.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Baird R W lowered shares of Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Stifel Nicolaus decreased their target price on shares of Ameresco from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Piper Sandler set a $21.00 price target on shares of Ameresco and gave the company an "overweight" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ameresco has a consensus rating of "Hold" and a consensus price target of $20.67.

Ameresco Stock Performance

Shares of NYSE AMRC traded down $0.23 during mid-day trading on Friday, hitting $18.36. The stock had a trading volume of 726,343 shares, compared to its average volume of 514,515. The company has a 50 day moving average of $15.02 and a two-hundred day moving average of $15.88. The firm has a market cap of $964.39 million, a PE ratio of 18.17, a PEG ratio of 0.85 and a beta of 2.22. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.56 and a current ratio of 1.57. Ameresco has a twelve month low of $8.49 and a twelve month high of $39.68.

Ameresco (NYSE:AMRC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.15. The company had revenue of $352.83 million during the quarter, compared to analysts' expectations of $323.71 million. Ameresco had a return on equity of 6.32% and a net margin of 2.97%. Ameresco's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. Research analysts predict that Ameresco will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Ameresco

Several hedge funds and other institutional investors have recently made changes to their positions in AMRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ameresco by 1.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,593 shares of the utilities provider's stock valued at $977,000 after purchasing an additional 747 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ameresco by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 101,730 shares of the utilities provider's stock valued at $2,389,000 after purchasing an additional 859 shares during the last quarter. Alps Advisors Inc. grew its holdings in Ameresco by 2.2% during the 1st quarter. Alps Advisors Inc. now owns 50,285 shares of the utilities provider's stock worth $607,000 after acquiring an additional 1,060 shares during the last quarter. Harvest Portfolios Group Inc. grew its holdings in Ameresco by 12.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 12,570 shares of the utilities provider's stock worth $152,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Ameresco by 5.2% during the 1st quarter. Deutsche Bank AG now owns 35,265 shares of the utilities provider's stock worth $426,000 after acquiring an additional 1,730 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors and hedge funds.

Ameresco Company Profile

Ameresco, Inc, a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions in the United States, Canada, Europe, and internationally. It operates through U.S. Regions, U.S. Federal, Canada, Europe, Alternative Fuels, and All Other segments. The company offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions for businesses and organizations.