Ameresco (NYSE:AMRC) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

Ameresco (NYSE:AMRC) had its target price cut by Stifel Nicolaus from $34.00 to $18.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

AMRC has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on Ameresco from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. UBS Group lowered Ameresco from a “buy” rating to a “sell” rating and dropped their target price for the company from $37.00 to $8.00 in a research report on Tuesday. StockNews.com raised Ameresco to a “sell” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird cut their price target on Ameresco from $42.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ameresco has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Ameresco Stock Performance

Shares of AMRC opened at $9.91 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.26 and a current ratio of 1.27. The stock has a 50-day moving average of $21.54 and a two-hundred day moving average of $27.26. The stock has a market cap of $519.92 million, a P/E ratio of 9.91, a P/E/G ratio of 0.49 and a beta of 1.79. Ameresco has a one year low of $9.39 and a one year high of $39.68.

Ameresco (NYSE:AMRC) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $532.67 million during the quarter, compared to the consensus estimate of $524.31 million. Ameresco had a return on equity of 5.68% and a net margin of 3.18%. As a group, research analysts predict that Ameresco will post 1.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jennifer L. Miller sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $21.06, for a total transaction of $842,400.00. Following the transaction, the director now directly owns 17,225 shares in the company, valued at $362,758.50. The trade was a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 42.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. lifted its position 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 valued at $93,000 after buying an additional 2,279 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Ameresco during the fourth quarter worth about $146,000. Cetera Trust Company N.A lifted its position in shares of Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 440 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Ameresco by 145.0% in the fourth quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 4,362 shares during the period. Finally, FMR LLC grew its holdings in shares of Ameresco by 257.9% in the third quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 3,855 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.

About Ameresco

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.