Fed’s Powell opens door to potential rate cuts at Jackson Hole
Charles R. Patton, a director at Ameresco, Inc. (NYSE:AMRC), recently boosted his stake in the company by purchasing 5,000 shares of Class A common stock. The shares were acquired at a weighted average price of $9.96, amounting to a total investment of $49,800. The purchase comes as the stock trades near its 52-week low of $9.04, having declined over 68% in the past six months. According to InvestingPro analysis, the stock appears undervalued, trading at just 0.48 times book value. Following this transaction, Patton’s direct ownership in Ameresco increased to 8,503 shares. The purchase was made in multiple transactions, with prices ranging from $9.72 to $10.14 per share. InvestingPro data shows the stock is currently in oversold territory, with 20+ additional real-time insights available to subscribers through comprehensive Pro Research Reports.
In other recent news, Ameresco reported its fourth-quarter 2024 earnings, surpassing expectations with an EPS of $0.88, exceeding the forecasted $0.78. The company also achieved a revenue of $533 million, slightly above the anticipated $523.61 million, marking a 21% increase year-over-year. Despite these positive results, Ameresco’s stock faced a decline in aftermarket trading. Stifel analysts revised their outlook on Ameresco, reducing the price target to $18 while maintaining a Buy rating, citing lower adjusted EBITDA figures and potential risks in the Projects segment. UBS analyst William Grippin downgraded Ameresco from Buy to Sell, cutting the price target to $8 due to concerns over adjusted EBITDA guidance and federal project challenges. Craig-Hallum adjusted its price target to $34, retaining a Buy rating, acknowledging Ameresco’s solid backlog and revenue visibility despite political uncertainties. These developments reflect the varied analyst perspectives on Ameresco’s future amidst evolving federal funding priorities and the company’s financial performance.
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