Ameresco (NYSE:AMRC) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Ameresco (NYSE:AMRC) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Ameresco, Inc. is an independent provider of comprehensive energy efficiency solutions for facilities throughout North America. The Company’s solutions include upgrades to a facility’s energy infrastructure, and the construction and operation of renewable energy plants. It engages in the development, design, engineering, and installation of projects that reduce the energy, as well as operation and maintenance costs of governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities facilities. Ameresco, Inc. is headquartered in Framingham, Massachusetts. “

A number of other brokerages also recently weighed in on AMRC. Oppenheimer lowered their target price on shares of Ameresco from $26.00 to $24.00 and set an outperform rating on the stock in a research note on Tuesday, May 5th. B. Riley raised their target price on shares of Ameresco from $19.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, March 4th. Canaccord Genuity reaffirmed a buy rating and issued a $28.00 target price (up from $9.50) on shares of Ameresco in a research note on Tuesday, March 3rd. Finally, Roth Capital raised their target price on shares of Ameresco from $19.00 to $27.00 and gave the company a buy rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ameresco has a consensus rating of Buy and a consensus price target of $24.83.

Shares of AMRC stock traded up $0.43 during trading hours on Wednesday, reaching $20.94. The stock had a trading volume of 180,617 shares, compared to its average volume of 230,061. The stock’s fifty day simple moving average is $17.83 and its 200 day simple moving average is $18.22. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 0.73. Ameresco has a 12 month low of $13.11 and a 12 month high of $26.19. The firm has a market capitalization of $975.60 million, a PE ratio of 21.14, a PEG ratio of 1.28 and a beta of 0.47.

Ameresco (NYSE:AMRC) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $212.41 million during the quarter, compared to analyst estimates of $167.33 million. Ameresco had a net margin of 5.00% and a return on equity of 11.23%. As a group, equities research analysts anticipate that Ameresco will post 0.92 EPS for the current fiscal year.

In related news, CEO George P. Sakellaris sold 800,000 shares of Ameresco stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.25, for a total value of $17,000,000.00. Following the transaction, the chief executive officer now directly owns 2,783,361 shares of the company’s stock, valued at $59,146,421.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Anderson sold 8,085 shares of Ameresco stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $20.47, for a total transaction of $165,499.95. Following the completion of the transaction, the executive vice president now directly owns 91,915 shares in the company, valued at $1,881,500.05. The disclosure for this sale can be found here. Insiders have sold 810,085 shares of company stock worth $17,204,380 over the last three months. Insiders own 55.86% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMRC. State Street Corp increased its stake in shares of Ameresco by 4.8% in the third quarter. State Street Corp now owns 406,895 shares of the utilities provider’s stock worth $6,539,000 after buying an additional 18,631 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ameresco by 542.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,256 shares of the utilities provider’s stock worth $57,000 after buying an additional 2,749 shares during the period. Sage Rhino Capital LLC purchased a new position in shares of Ameresco in the fourth quarter worth $1,154,000. First Trust Advisors LP increased its stake in shares of Ameresco by 4.5% in the fourth quarter. First Trust Advisors LP now owns 72,828 shares of the utilities provider’s stock worth $1,274,000 after buying an additional 3,131 shares during the period. Finally, Guinness Asset Management Ltd increased its stake in shares of Ameresco by 6.4% in the fourth quarter. Guinness Asset Management Ltd now owns 31,700 shares of the utilities provider’s stock worth $555,000 after buying an additional 1,900 shares during the period. 33.87% of the stock is currently owned by institutional investors.

Ameresco Company Profile

Ameresco, Inc provides comprehensive energy services for businesses and organizations in North America and Europe. It offers energy efficiency, infrastructure upgrades, energy security and resilience, asset sustainability, and renewable energy solutions. The company operates through U.S. Regions, U.S.

Featured Article: How to Invest in the Dividend Aristocrat Index

Get a free copy of the Zacks research report on Ameresco (AMRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ameresco (NYSE:AMRC)

Receive News & Ratings for Ameresco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameresco and related companies with MarketBeat.com's FREE daily email newsletter.