Canaccord Genuity Group Lowers Price Target for Ameresco (NYSE:AMRC) Stock

Investment analysts at Canaccord Genuity Group have recently lowered their price target for Ameresco (NYSE:AMRC), a clean technology provider, from $36.00 to $27.00 in a research report published last Friday. Despite this reduction, the firm has maintained a "buy" rating for the company's stock. The new price target suggests a potential upside of 117.11% based on Ameresco's current stock price.

Other analysts have also shared their views on Ameresco. Notably, StockNews.com has upgraded the company to a "sell" rating in a report dated November 12th. In a separate report on November 11th, Stifel Nicolaus increased their price target for Ameresco from $32.00 to $34.00, also assigning a "buy" rating. Meanwhile, Robert W. Baird lowered its target from $42.00 to $25.00 and set an "outperform" rating for the stock. Additionally, UBS Group reduced their target for Ameresco from $40.00 to $37.00, while keeping a "buy" rating on the stock. Currently, one analyst has rated the stock as a sell, three have issued hold ratings, eight have provided buy ratings, and one has a strong buy rating. According to MarketBeat data, Ameresco currently holds an average rating of "Moderate Buy" with a consensus target price of $33.33.

Ameresco's Recent Stock Performance

On Friday, Ameresco's stock fell by $5.89 during trading, closing at $12.44. The trading volume for the day was 712,897 shares, surpassing the average volume of 398,758 shares. Over the past twelve months, Ameresco's stock has reached a low of $11.90 and a high of $39.68. 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's fifty-day simple moving average is $22.27, while the 200-day average stands at $27.62. The company's market capitalization is approximately $652.18 million, with a P/E ratio of 12.43, a PEG ratio of 0.49, and a beta of 1.79.

Quarterly Earnings Report

Ameresco recently announced its quarterly earnings on February 27th. The company reported earnings of $0.88 per share, exceeding the consensus estimate of $0.76 by $0.12. Total revenue for the quarter was $532.67 million, compared to analysts' expectations of $524.31 million. Ameresco's net margin stands at 3.18%, and its return on equity is 5.68%. Analysts forecast an EPS of 1.15 for Ameresco for the current fiscal year.

Insider Trading Activities

In other company news, Director Jennifer L. Miller sold 40,000 shares of Ameresco stock on February 3rd, at an average price of $21.06, leading to a total transaction value of $842,400.00. Following this sale, Miller now owns 17,225 shares valued at about $362,758.50, which marks a significant 69.90% decrease in her ownership stake. This transaction was disclosed in a filing with the SEC.

Institutional Investments

Several institutional investors have been adjusting their holdings in Ameresco recently. For instance, Blue Trust Inc. increased its stake in Ameresco by 100.3% during the third quarter, now owning 781 shares. Point72 Asia Singapore Pte. Ltd. raised its stake by an impressive 1,294.9%, acquiring 2,455 shares. Similarly, FMR LLC boosted its position by 257.9%, now holding 5,350 shares. PFG Investments LLC entered a new stake valued at approximately $207,000, while KLP Kapitalforvaltning AS purchased a new position valued at around $146,000. Overall, hedge funds and other institutional investors own approximately 99.24% of Ameresco's stock.

About Ameresco

Ameresco, Inc. is recognized as a clean technology integrator providing a diverse range of energy efficiency and renewable energy supply solutions across the United States, Canada, Europe, and internationally. The company operates through various segments, including U.S. Regions, U.S. Federal, Canada, Europe, and Alternative Fuels, offering services focused on energy efficiency, infrastructure, energy security, asset sustainability, and renewable energy solutions for various organizations.

Ameresco, Investments, Forecast