Ameresco (NYSE:AMRC) Price Target Cut to $17.00 by Analysts at Stifel Nicolaus

Ameresco (NYSE:AMRC - Free Report) had its price target cut by Stifel Nicolaus from $18.00 to $17.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the utilities provider's stock.

Several other equities research analysts have also recently commented on AMRC. Baird R W cut Ameresco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird reiterated a "neutral" rating and set a $13.00 price target (down from $25.00) on shares of Ameresco in a research note on Tuesday, April 15th. Canaccord Genuity Group raised their price objective on shares of Ameresco from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. UBS Group cut Ameresco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $37.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Piper Sandler set a $21.00 price target on Ameresco and gave the company an "overweight" rating in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $20.17.

Ameresco Stock Up 0.0%

Shares of NYSE AMRC traded up $0.00 during mid-day trading on Monday, hitting $14.21. The company had a trading volume of 65,220 shares, compared to its average volume of 698,122. The business's 50-day simple moving average is $11.34 and its 200 day simple moving average is $19.48. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.27 and a quick ratio of 1.26. Ameresco has a 1-year low of $8.49 and a 1-year high of $39.68. The company has a market capitalization of $746.82 million, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.49 and a beta of 2.20.

Ameresco (NYSE:AMRC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The utilities provider reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The business had revenue of $352.83 million during the quarter, compared to the consensus estimate of $323.71 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company's revenue was up 18.2% compared to the same quarter last year. On average, analysts predict that Ameresco will post 1.15 earnings per share for the current year.

Insider Activity at Ameresco

In other news, CEO George P. Sakellaris bought 25,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $9.27 per share, for a total transaction of $231,750.00. Following the acquisition, the chief executive officer now owns 978,638 shares of the company's stock, valued at $9,071,974.26. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Francis V. Wisneski, Jr. bought 3,500 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $9.67 per share, for a total transaction of $33,845.00. Following the completion of the acquisition, the director now owns 17,738 shares in the company, valued at approximately $171,526.46. This trade represents a 24.58% increase in their position. The disclosure for this purchase can be found here. Insiders bought 80,808 shares of company stock valued at $785,274 in the last ninety days. Corporate insiders own 42.00% of the company's stock.

Hedge Funds Weigh In On Ameresco

Institutional investors have recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its holdings in Ameresco by 12.4% in the first quarter. Harvest Portfolios Group Inc. now owns 12,570 shares of the utilities provider's stock valued at $152,000 after purchasing an additional 1,390 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Ameresco in the first quarter worth $121,000. AlphaQuest LLC acquired a new stake in Ameresco in the first quarter valued at $114,000. Fuller & Thaler Asset Management Inc. bought a new position in Ameresco during the 1st quarter valued at $516,000. Finally, Quantbot Technologies LP acquired a new position in Ameresco during the 1st quarter worth $569,000. Institutional investors and hedge funds own 99.24% of the company's stock.

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.