Maxim Group Issues Pessimistic Forecast for NV5 Global (NASDAQ:NVEE) Stock Price

NV5 Global (NASDAQ:NVEE) had its price target lowered by investment analysts at Maxim Group from $29.00 to $24.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Maxim Group’s target price points to a potential upside of 35.21% from the stock’s current price.

NVEE has been the subject of a number of other reports. Roth Mkm boosted their target price on shares of NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird reduced their target price on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, StockNews.com cut shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.67.

NV5 Global Stock Performance

NASDAQ:NVEE opened at $17.75 on Friday. 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 firm has a 50-day moving average price of $18.48 and a two-hundred day moving average price of $21.34. NV5 Global has a twelve month low of $16.77 and a twelve month high of $27.77. The company has a market capitalization of $1.15 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm 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 9.34% and a net margin of 3.25%. As a group, research analysts expect that NV5 Global will post 1.26 earnings per share for the current fiscal year.

NV5 Global announced that its board has authorized a stock repurchase plan on Monday, January 6th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at NV5 Global

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 transaction of $401,600.00. Following the completion of the sale, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On NV5 Global

Several institutional investors have recently modified their holdings of NVEE. Blue Trust Inc. grew its position in shares of NV5 Global by 3,950.0% during the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after acquiring an additional 632 shares during the last quarter. Oak Ridge Investments LLC lifted its holdings in NV5 Global by 287.2% in the 3rd quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock valued at $9,173,000 after acquiring an additional 72,780 shares during the last quarter. Emerald Advisers LLC lifted its holdings in NV5 Global by 3.2% in the 3rd quarter. Emerald Advisers LLC now owns 280,666 shares of the business services provider’s stock valued at $26,237,000 after acquiring an additional 8,720 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in NV5 Global by 0.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 140,870 shares of the business services provider’s stock valued at $13,169,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Versor Investments LP lifted its holdings in NV5 Global by 23.7% in the 3rd quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after acquiring an additional 806 shares during the last quarter. Institutional investors own 75.54% of the company’s stock.

NV5 Global Company Profile

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.