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Mark Chiplock, the Executive Vice President and Chief Financial Officer of Ameresco, Inc. (NYSE:AMRC), recently made notable transactions involving the company’s stock. The transactions come at a time when Ameresco’s shares have experienced significant volatility, with the stock down nearly 64% over the past six months and currently trading at $12.90. On March 19, Chiplock sold 95 shares of Ameresco’s Class A Common Stock at a price of $11.92 per share, totaling $1,132. This sale was conducted under an automatic sell-to-cover arrangement aimed at covering withholding taxes related to the vesting of restricted stock units (RSUs).
In addition, on March 17, Chiplock acquired 276 shares of Class A Common Stock through the vesting of RSUs, with no cash transaction involved. Following these transactions, Chiplock now directly owns 708 shares of Ameresco’s Class A Common Stock.
In other recent news, Ameresco reported its fourth-quarter 2024 earnings, which exceeded expectations with an EPS of $0.88, surpassing the forecast of $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, UBS downgraded Ameresco’s stock from Buy to Sell and significantly lowered its price target from $37 to $8, citing potential risks to the company’s adjusted EBITDA guidance for 2025. Stifel also revised its price target for Ameresco, cutting it to $18 from $34, while maintaining a Buy rating, due to lower estimates and an uncertain near-term outlook. Craig-Hallum adjusted its price target to $34 from $40, retaining a Buy rating, based on Ameresco’s conservative guidance for 2025. The company highlighted a milestone achievement in its fourth quarter by converting over $1 billion of awards into its backlog, with the contracted Project backlog nearly doubling over two years to $2.5 billion. Ameresco’s guidance for 2025 includes a revenue target of $1.9 billion and an adjusted EBITDA target of $235 million, with plans to deploy 100-120 megawatts of energy assets. These developments occur amidst a backdrop of potential disruptions in federal projects due to the Trump administration’s funding priorities.
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