Zacks Investment Research Lowers Ameresco (AMRC) to Hold

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Zacks Investment Research lowered shares of Ameresco (NYSE:AMRC) from a buy rating to a hold rating in a research report sent to investors on Monday.

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. “

AMRC has been the topic of several other research reports. B. Riley initiated coverage on Ameresco in a research note on Wednesday, December 19th. They set a buy rating and a $17.50 target price on the stock. Canaccord Genuity lifted their target price on Ameresco from $16.00 to $16.50 and gave the company a buy rating in a research note on Wednesday, October 31st. Oppenheimer set a $17.00 target price on Ameresco and gave the company a buy rating in a research note on Tuesday, October 30th. Finally, TheStreet raised Ameresco from a c+ rating to a b- rating in a research note on Wednesday, November 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $16.40.

Shares of Ameresco stock opened at $14.89 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 1.42. The firm has a market cap of $680.91 million, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.59. Ameresco has a 1-year low of $8.05 and a 1-year high of $16.59.

In other news, Director Jennifer L. Miller acquired 2,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were bought at an average price of $15.50 per share, with a total value of $31,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francis V. Wisneski, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $15.80, for a total value of $47,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,947 shares of company stock worth $414,651 in the last ninety days. 57.93% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AMRC. Schwab Charles Investment Management Inc. raised its stake in shares of Ameresco by 23.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,720 shares of the utilities provider’s stock worth $1,173,000 after buying an additional 18,798 shares in the last quarter. BlackRock Inc. raised its position in shares of Ameresco by 13.3% during the second quarter. BlackRock Inc. now owns 970,738 shares of the utilities provider’s stock worth $11,649,000 after purchasing an additional 114,297 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Ameresco by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,289,714 shares of the utilities provider’s stock worth $15,476,000 after purchasing an additional 146,253 shares during the period. Bank of America Corp DE grew its holdings in shares of Ameresco by 415.3% during the second quarter. Bank of America Corp DE now owns 53,062 shares of the utilities provider’s stock valued at $637,000 after buying an additional 42,765 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Ameresco by 5.1% during the second quarter. California Public Employees Retirement System now owns 76,152 shares of the utilities provider’s stock valued at $914,000 after buying an additional 3,688 shares in the last quarter. 27.37% of the stock is currently owned by institutional investors.

About Ameresco

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.

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