NV5 Global (NVEE) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of NV5 Global (NASDAQ:NVEE) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Several other equities research analysts have also weighed in on NVEE. Zacks Investment Research lowered shares of NV5 Global from a buy rating to a hold rating in a report on Friday, September 8th. ValuEngine raised shares of NV5 Global from a hold rating to a buy rating in a report on Friday, September 15th. Seaport Global Securities reaffirmed a buy rating and issued a $61.00 target price (up previously from $42.00) on shares of NV5 Global in a report on Wednesday, October 11th. Roth Capital upped their target price on shares of NV5 Global from $48.00 to $60.00 and gave the stock a buy rating in a report on Thursday, November 9th. Finally, Lake Street Capital upped their target price on shares of NV5 Global to $66.00 and gave the stock a buy rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $58.00.

NV5 Global (NASDAQ NVEE) traded down $0.40 on Thursday, hitting $51.70. 46,400 shares of the stock traded hands, compared to its average volume of 50,833. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.41. NV5 Global has a fifty-two week low of $33.60 and a fifty-two week high of $58.95. The company has a market cap of $561.93, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38.

NV5 Global (NASDAQ:NVEE) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. NV5 Global had a net margin of 5.23% and a return on equity of 14.75%. The business had revenue of $91.26 million for the quarter, compared to analyst estimates of $103.15 million. sell-side analysts predict that NV5 Global will post 2.34 EPS for the current fiscal year.

In other NV5 Global news, CFO Michael P. Rama sold 1,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,653,184.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Tong sold 2,200 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $54.00, for a total transaction of $118,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,684 shares of company stock worth $405,970. Insiders own 26.00% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in NV5 Global by 2.5% during the 2nd quarter. Wells Fargo & Company MN now owns 5,083 shares of the business services provider’s stock worth $216,000 after acquiring an additional 126 shares during the last quarter. Nationwide Fund Advisors grew its holdings in NV5 Global by 12.5% during the 2nd quarter. Nationwide Fund Advisors now owns 5,851 shares of the business services provider’s stock worth $249,000 after acquiring an additional 652 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in NV5 Global by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,371 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 752 shares during the period. Teachers Advisors LLC lifted its position in NV5 Global by 6.7% during the 2nd quarter. Teachers Advisors LLC now owns 13,727 shares of the business services provider’s stock valued at $583,000 after purchasing an additional 861 shares during the period. Finally, Rhumbline Advisers lifted its position in NV5 Global by 11.2% during the 2nd quarter. Rhumbline Advisers now owns 8,631 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 870 shares during the period. 56.21% of the stock is currently owned by hedge funds and other institutional investors.

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About NV5 Global

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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