Ameresco (NYSE:AMRC) Shares Gap Down – Here’s Why

Shares of Ameresco, Inc. (NYSE:AMRC) gapped down before the market opened on Tuesday . The stock had previously closed at $10.56, but opened at $10.04. Ameresco shares last traded at $10.01, with a volume of 332,549 shares.

Wall Street Analyst Weigh In

AMRC has been the topic of several analyst reports. UBS Group lowered shares of Ameresco from a “buy” rating to a “sell” rating and cut their price objective for the company from $37.00 to $8.00 in a report on Tuesday. StockNews.com upgraded shares of Ameresco to a “sell” rating in a report on Tuesday, November 12th. Robert W. Baird lowered 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. Canaccord Genuity Group dropped their target price on Ameresco from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus increased their price objective on shares of Ameresco from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.11.

Ameresco Stock Down 7.8 %

The stock has a fifty day moving average price of $21.82 and a two-hundred day moving average price of $27.39. The company has a market cap of $510.59 million, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 0.49 and a beta of 1.79. 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 (NYSE:AMRC) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.76 by $0.12. Ameresco had a net margin of 3.18% and a return on equity of 5.68%. The company had revenue of $532.67 million during the quarter, compared to the consensus estimate of $524.31 million. On average, research analysts expect that Ameresco, Inc. 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 company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $21.06, for a total transaction of $842,400.00. Following the sale, the director now directly owns 17,225 shares of the company’s stock, valued at $362,758.50. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. grew its position in Ameresco by 1,294.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,455 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,279 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Ameresco in the fourth quarter worth approximately $146,000. Cetera Trust Company N.A lifted its position in Ameresco by 6.9% during the fourth quarter. Cetera Trust Company N.A now owns 6,800 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 440 shares during the last quarter. Lazard Asset Management LLC grew its stake in Ameresco by 145.0% in the 4th quarter. Lazard Asset Management LLC now owns 7,371 shares of the utilities provider’s stock worth $172,000 after buying an additional 4,362 shares in the last quarter. Finally, FMR LLC grew its stake in Ameresco by 257.9% in the 3rd quarter. FMR LLC now owns 5,350 shares of the utilities provider’s stock worth $203,000 after buying an additional 3,855 shares in the last quarter. 99.24% of the stock is owned by institutional investors.

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.