NV5 Global (NASDAQ:NVEE) Shares Gap Up on Analyst Upgrade

NV5 Global, Inc. (NASDAQ:NVEE)’s stock price gapped up before the market opened on Friday after Roth Mkm raised their price target on the stock from $27.00 to $28.00. The stock had previously closed at $17.43, but opened at $18.71. Roth Mkm currently has a buy rating on the stock. NV5 Global shares last traded at $17.63, with a volume of 143,158 shares.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird cut their target price on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, NV5 Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Insider Activity

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the transaction, the vice president now directly owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On NV5 Global

Institutional investors have recently bought and sold shares of the company. BNP Paribas increased its stake in NV5 Global by 300.0% in the 4th quarter. BNP Paribas now owns 1,400 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,050 shares during the period. Sterling Capital Management LLC increased its stake in NV5 Global by 3,320.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider’s stock valued at $28,000 after buying an additional 1,461 shares during the period. Blue Trust Inc. increased its stake in NV5 Global by 287.7% in the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock valued at $47,000 after buying an additional 1,864 shares during the period. SRS Capital Advisors Inc. increased its stake in NV5 Global by 296.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after buying an additional 2,680 shares during the period. Finally, KBC Group NV increased its stake in NV5 Global by 527.5% in the 4th quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock valued at $80,000 after buying an additional 3,550 shares during the period. 75.54% of the stock is owned by institutional investors and hedge funds.

NV5 Global Stock Up 1.8 %

The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.57 and a beta of 1.23. The firm’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $21.38.

NV5 Global (NASDAQ:NVEE) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $246.52 million for the quarter, compared to analysts’ expectations of $243.46 million. NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. On average, sell-side analysts anticipate that NV5 Global, Inc. will post 1.19 EPS for the current fiscal year.

NV5 Global announced that its Board of Directors has approved a stock repurchase program on Monday, January 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About NV5 Global

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.