NV5 Global (NVEE) Upgraded to “Buy” at Zacks Investment Research

NV5 Global (NASDAQ:NVEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage presently has a $58.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.54% from the company’s previous close.

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. “

A number of other research firms have also recently issued reports on NVEE. ValuEngine cut NV5 Global from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Seaport Global Securities reiterated a “buy” rating and issued a $61.00 target price (up from $42.00) on shares of NV5 Global in a research note on Wednesday, October 11th. BidaskClub upgraded NV5 Global from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Lake Street Capital raised their target price on NV5 Global to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Roth Capital raised their target price on NV5 Global from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $58.00.

NV5 Global (NASDAQ:NVEE) opened at $52.00 on Friday. NV5 Global has a one year low of $33.60 and a one year high of $58.95. The stock has a market capitalization of $557.61, a price-to-earnings ratio of 24.16, a P/E/G ratio of 0.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.54 and a current ratio of 2.54.

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

In other news, VP Richard Tong sold 2,200 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $54.00, for a total transaction of $118,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael P. Rama sold 1,800 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $55.20, for a total value of $99,360.00. Following the transaction, the chief financial officer now directly owns 29,949 shares in the company, valued at $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 quarter. 26.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings 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 valued at $216,000 after purchasing an additional 126 shares during the period. Nationwide Fund Advisors increased its holdings in shares of NV5 Global by 12.5% during the second quarter. Nationwide Fund Advisors now owns 5,851 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 652 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of NV5 Global by 13.4% during the second 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 increased 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 purchasing an additional 861 shares during the period. Finally, Rhumbline Advisers increased 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 purchasing an additional 870 shares during the period. 56.21% of the stock is currently owned by institutional investors.

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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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