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

NV5 Global, Inc. (NASDAQ:NVEE) 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 traded.

Several other equities research analysts have also commented on NVEE. StockNews.com lowered shares of NV5 Global from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird decreased their price objective 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Insider Buying and Selling

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cercano Management LLC lifted its holdings in NV5 Global by 208.8% in the 4th quarter. Cercano Management LLC now owns 3,925,599 shares of the business services provider’s stock valued at $73,958,000 after purchasing an additional 2,654,405 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NV5 Global by 288.4% in the 4th quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider’s stock valued at $70,875,000 after purchasing an additional 2,793,280 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NV5 Global by 310.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,514,316 shares of the business services provider’s stock valued at $47,370,000 after purchasing an additional 1,901,998 shares in the last quarter. American Century Companies Inc. lifted its holdings in NV5 Global by 322.4% in the 4th quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider’s stock valued at $40,456,000 after purchasing an additional 1,639,014 shares in the last quarter. Finally, Swedbank AB lifted its holdings in NV5 Global by 366.4% in the 4th quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after purchasing an additional 1,282,296 shares in the last quarter. 75.54% of the stock is currently owned by hedge funds and other institutional investors.

NV5 Global Stock Performance

The company has a market capitalization of $1.15 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.23. 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 stock’s fifty day simple moving average is $18.52 and its 200-day simple moving average is $21.38.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings data 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). NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. The company had revenue of $246.52 million for the quarter, compared to analysts’ expectations of $243.46 million. As a group, equities analysts predict that NV5 Global, Inc. will post 1.19 earnings per share for the current year.

NV5 Global announced that its Board of Directors has initiated a stock buyback plan on Monday, January 6th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.