Canaccord Genuity Group Issues Pessimistic Forecast for Ameresco (NYSE:AMRC) Stock Price

On Friday, analysts at Canaccord Genuity Group made a significant adjustment to their outlook for Ameresco (NYSE:AMRC), reducing their target price from $36.00 to $27.00. Despite this downgrade, the firm has maintained a "buy" rating for Ameresco, suggesting that they still see potential in the company's stock. The new price target implies a potential upside of approximately 117.11% based on the current market price of the stock.

Recent analyses from other research firms have also contributed to the discussion surrounding Ameresco's stock. For instance, StockNews.com recently changed Ameresco's rating to "sell" in a report dated November 12th. Meanwhile, Stifel Nicolaus has raised their price target for the company from $32.00 to $34.00 and has likewise issued a "buy" rating. In contrast, Robert W. Baird reduced their price target from $42.00 to $25.00 while maintaining an "outperform" rating. UBS Group has also cut their target from $40.00 to $37.00, endorsing a "buy" rating. In summary, one analyst rates the stock as a sell, three rate it as hold, eight as buy, and one has given it a strong buy rating. According to MarketBeat data, Ameresco currently holds an average rating of "Moderate Buy" and a consensus target price of $33.33.

Ameresco Price Performance Overview

During trading on Friday, shares of Ameresco dropped by $5.89, bringing the stock's price down to $12.44. The total trading volume for the day reached approximately 712,897 shares, notably higher than its average volume of 398,758 shares. Over the past year, Ameresco has seen a low of $11.90 and a high of $39.68. The company’s financial health indicators include a debt-to-equity ratio of 1.36, a current ratio of 1.27, and a quick ratio of 1.26. Additionally, the stock's fifty-day simple moving average is $22.27, while the 200-day simple moving average stands at $27.62. With a market capitalization of $652.18 million, Ameresco also reports a price-to-earnings (P/E) ratio of 12.43 and a PEG ratio of 0.49, with a beta of 1.79, indicating its volatility compared to the broader market.

Recent Earnings Report

Ameresco announced its quarterly earnings on February 27th, revealing earnings per share (EPS) of $0.88, surpassing analysts’ expectations of $0.76 by a margin of $0.12. For the quarter, the company's revenue totaled $532.67 million, which was higher than the anticipated $524.31 million. Ameresco reported a net margin of 3.18% and a return on equity of 5.68%. Analysts predict that the company will deliver an EPS of 1.15 in the current fiscal year.

Insider Transactions

In other developments, Director Jennifer L. Miller sold 40,000 shares on February 3rd at an average price of $21.06, amounting to a total transaction of $842,400. Following the sale, Miller now holds 17,225 shares, which is valued at about $362,758.50. Notably, this represents a 69.90% decrease in her total stock ownership. This transaction has been disclosed in paperwork filed with the SEC.

Institutional Holdings

Several institutional investors and hedge funds have recently adjusted their holdings in Ameresco. Blue Trust Inc. increased its position by 100.3% in the third quarter, owning 781 shares worth $30,000 after adding 391 shares. Point72 Asia Singapore Pte. Ltd. expanded their stake by an impressive 1,294.9%, owning 2,455 shares valued at $93,000 after acquiring an additional 2,279 shares. FMR LLC raised its position by 257.9%, now holding 5,350 shares worth $203,000 after an additional purchase of 3,855 shares. Other investors, including PFG Investments LLC and KLP Kapitalforvaltning AS, also initiated new positions in the stock during the last couple of quarters. Overall, institutional ownership in Ameresco stands at 99.24%.

About Ameresco

Ameresco, Inc. specializes in clean technology integration and offers a variety of energy efficiency and renewable energy solutions across the U.S., Canada, Europe, and other international markets. The company operates through various segments, including U.S. Regions, U.S. Federal, Canada, Europe, and Alternative Fuels. Ameresco's services focus on energy efficiency, infrastructure upgrades, energy security, asset sustainability, and renewable energy for businesses and organizations.

Ameresco, Stock, Investment