NV5 Global (NVEE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of NV5 Global (NASDAQ:NVEE) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “NV5 Holding Inc. offers professional, technical consulting and certification solutions for public and private sector. The company focuses on business services which include construction quality assurance, infrastructure engineering, energy services, program management, and environmental services. It operates in California, Colorado, Utah, Florida and New Jersey. NV5 Holding Inc. is headquartered in Hollywood, Florida. “

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of NV5 Global from a buy rating to a hold rating in a research note on Monday, October 2nd. BidaskClub cut shares of NV5 Global from a buy rating to a hold rating in a research note on Thursday. Lake Street Capital raised their price target on shares of NV5 Global to $66.00 and gave the stock a buy rating in a research note on Thursday, November 9th. Seaport Global Securities reaffirmed a buy rating and set a $61.00 price target (up from $42.00) on shares of NV5 Global in a research note on Wednesday, October 11th. Finally, Roth Capital raised their price target on shares of NV5 Global from $48.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. NV5 Global presently has a consensus rating of Buy and a consensus price target of $58.00.

NV5 Global (NASDAQ:NVEE) opened at $52.00 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.41. The stock has a market cap of $557.61, a price-to-earnings ratio of 35.37, a P/E/G ratio of 0.95 and a beta of 1.38. NV5 Global has a fifty-two week low of $33.60 and a fifty-two week high of $58.95.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $91.26 million during the quarter, compared to the consensus estimate of $103.15 million. NV5 Global had a net margin of 5.23% and a return on equity of 14.75%. analysts forecast that NV5 Global will post 2.34 EPS for the current year.

In other news, VP Richard Tong sold 2,200 shares of NV5 Global stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $54.00, for a total transaction of $118,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael P. Rama sold 1,800 shares of NV5 Global stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.20, for a total transaction of $99,360.00. Following the sale, the chief financial officer now owns 29,949 shares in the company, valued at approximately $1,653,184.80. The disclosure for this sale can be found here. Insiders sold 7,684 shares of company stock worth $405,970 over the last three months. Corporate insiders own 26.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of NV5 Global by 2.5% during the second quarter. Wells Fargo & Company MN now owns 5,083 shares of the business services provider’s stock worth $216,000 after buying an additional 126 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in NV5 Global by 12.5% in the second quarter. Nationwide Fund Advisors now owns 5,851 shares of the business services provider’s stock worth $249,000 after purchasing an additional 652 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in NV5 Global by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,371 shares of the business services provider’s stock worth $272,000 after purchasing an additional 752 shares during the period. Teachers Advisors LLC boosted its holdings in shares of NV5 Global by 6.7% during the second quarter. Teachers Advisors LLC now owns 13,727 shares of the business services provider’s stock valued at $583,000 after acquiring an additional 861 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of NV5 Global by 11.2% during the second quarter. Rhumbline Advisers now owns 8,631 shares of the business services provider’s stock valued at $367,000 after acquiring an additional 870 shares during the period. Institutional investors own 56.21% of the company’s stock.

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NV5 Global Company Profile

NV5 Global, Inc, formerly NV5 Holdings, Inc, is a holding company. The Company provides professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. It focuses on five business verticals: construction quality assurance, infrastructure, energy, program management, and environmental solutions.

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