Maxim Group Has Lowered Expectations for NV5 Global (NASDAQ:NVEE) Stock Price

NV5 Global (NASDAQ:NVEE) had its target price reduced by equities research analysts at Maxim Group from $29.00 to $24.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Maxim Group’s target price suggests a potential upside of 34.48% from the company’s previous close.

NVEE has been the topic of a number of other reports. Robert W. Baird lowered their price target 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. 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 research note on Friday. Finally, StockNews.com lowered shares of NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday. Two equities 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, NV5 Global currently has an average rating of “Moderate Buy” and an average target price of $25.67.

NV5 Global Price Performance

Shares of NVEE traded up $0.42 during mid-day trading on Friday, reaching $17.85. The stock had a trading volume of 480,286 shares, compared to its average volume of 416,080. NV5 Global has a 12 month low of $16.77 and a 12 month high of $27.77. The business has a fifty day moving average of $18.52 and a 200 day moving average of $21.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.57 and a beta of 1.23.

NV5 Global (NASDAQ:NVEE) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $246.52 million during the quarter, compared to analysts’ expectations of $243.46 million. NV5 Global had a net margin of 3.86% and a return on equity of 9.45%. Equities analysts predict that NV5 Global will post 1.19 EPS for the current year.

NV5 Global announced that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at NV5 Global

In other news, VP Richard Tong sold 20,000 shares of the company’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 of the company’s stock, valued at $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On NV5 Global

A number of large investors have recently modified their holdings of NVEE. Blue Trust Inc. boosted its position in shares of NV5 Global by 3,950.0% during the 3rd quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 632 shares during the last quarter. BNP Paribas boosted its position in shares of NV5 Global by 300.0% during the 4th quarter. BNP Paribas now owns 1,400 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,050 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of NV5 Global by 3,320.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 1,461 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of NV5 Global by 296.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 2,680 shares during the last quarter. Finally, Versor Investments LP boosted its position in shares of NV5 Global by 23.7% during 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. Hedge funds and other 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.