Zacks Investment Research Downgrades NV5 Global, Inc. (NVEE) to Hold
NV5 Global, Inc. (NASDAQ:NVEE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Several other brokerages have also issued reports on NVEE. ValuEngine raised NV5 Global from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. BidaskClub cut NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Sidoti assumed coverage on NV5 Global in a research report on Wednesday, July 5th. They set a “neutral” rating and a $45.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.67.
NV5 Global (NASDAQ:NVEE) opened at 56.20 on Wednesday. The firm has a 50-day moving average price of $48.70 and a 200-day moving average price of $41.77. NV5 Global has a one year low of $24.57 and a one year high of $56.60. The firm has a market cap of $571.61 million, a PE ratio of 44.85 and a beta of 1.44.
NV5 Global (NASDAQ:NVEE) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $83.74 million during the quarter, compared to analyst estimates of $87.73 million. NV5 Global had a net margin of 4.90% and a return on equity of 12.79%. On average, equities analysts expect that NV5 Global will post $2.31 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in NVEE. Ashford Capital Management Inc. boosted its stake in shares of NV5 Global by 2.9% in the 2nd quarter. Ashford Capital Management Inc. now owns 180,550 shares of the business services provider’s stock valued at $7,673,000 after purchasing an additional 5,090 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 last quarter. State Street Corp grew its holdings in shares of NV5 Global by 13.9% during the 2nd quarter. State Street Corp now owns 127,923 shares of the business services provider’s stock valued at $5,438,000 after purchasing an additional 15,601 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of NV5 Global by 2.9% during the 2nd quarter. Royal Bank of Canada now owns 39,366 shares of the business services provider’s stock valued at $1,673,000 after purchasing an additional 1,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of NV5 Global by 26.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 348,217 shares of the business services provider’s stock valued at $14,799,000 after purchasing an additional 72,288 shares during the last quarter. Hedge funds and other institutional investors own 55.53% of the company’s stock.
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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