Canaccord Genuity Group Cuts Ameresco (NYSE:AMRC) Price Target to $27.00

Ameresco (NYSE:AMRC) had its price target reduced by Canaccord Genuity Group from $36.00 to $27.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other analysts have also recently issued reports on AMRC. UBS Group lowered their price objective on Ameresco from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird lowered their price objective on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday. Stifel Nicolaus boosted their price objective on Ameresco from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, StockNews.com raised Ameresco to a “sell” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameresco currently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Ameresco Stock Performance

Shares of NYSE AMRC opened at $11.80 on Friday. The company has a market cap of $618.83 million, a P/E ratio of 11.80, a P/E/G ratio of 0.49 and a beta of 1.79. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 1.36. Ameresco has a 12 month low of $11.78 and a 12 month high of $39.68. The business’s 50 day moving average is $22.27 and its two-hundred day moving average is $27.62.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. The business had revenue of $532.67 million for the quarter, compared to analysts’ expectations of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. On average, equities analysts expect that Ameresco will post 1.15 EPS for the current year.

Insider Activity at Ameresco

In other Ameresco news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total value of $842,400.00. Following the transaction, the director now owns 17,225 shares of the company’s stock, valued at approximately $362,758.50. The trade was a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameresco

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Ameresco by 100.3% in the third quarter. Blue Trust Inc. now owns 781 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 391 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Ameresco by 1,294.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 2,279 shares in the last quarter. FMR LLC boosted its stake in Ameresco by 257.9% in the third quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 3,855 shares in the last quarter. PFG Investments LLC acquired a new position in Ameresco in the third quarter worth $207,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Ameresco in the fourth quarter worth $146,000. 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.