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

NV5 Global, Inc. (NASDAQ:NVEE)’s stock price gapped up prior to trading 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 changing hands.

NVEE has been the subject of a number of other reports. Robert W. Baird decreased their price objective on NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. StockNews.com lowered shares of NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Transactions at NV5 Global

In related news, VP Richard Tong sold 20,000 shares of NV5 Global stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the sale, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of NV5 Global by 3,950.0% during the third quarter. Blue Trust Inc. now owns 648 shares of the business services provider’s stock worth $60,000 after buying an additional 632 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in NV5 Global by 287.2% in the 3rd quarter. Oak Ridge Investments LLC now owns 98,124 shares of the business services provider’s stock valued at $9,173,000 after buying an additional 72,780 shares during the last quarter. Emerald Advisers LLC boosted its position in NV5 Global by 3.2% during the 3rd quarter. Emerald Advisers LLC now owns 280,666 shares of the business services provider’s stock worth $26,237,000 after buying an additional 8,720 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of NV5 Global by 0.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 140,870 shares of the business services provider’s stock worth $13,169,000 after purchasing an additional 1,000 shares during the period. Finally, Versor Investments LP increased its holdings in NV5 Global by 23.7% in the third quarter. Versor Investments LP now owns 4,206 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 806 shares during the period. Institutional investors own 75.54% of the company’s stock.

NV5 Global Stock Up 2.4 %

The company has a market capitalization of $1.16 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.57 and a beta of 1.23. The stock has a 50-day moving average price of $18.52 and a 200-day moving average price of $21.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05.

NV5 Global (NASDAQ:NVEE) last released its earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). NV5 Global had a net margin of 3.86% and a return on equity of 9.45%. The company had revenue of $246.52 million for the quarter, compared to analyst estimates of $243.46 million. On average, research analysts predict that NV5 Global, Inc. will post 1.19 EPS for the current fiscal year.

NV5 Global declared that its board has authorized a stock buyback program on Monday, January 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About NV5 Global

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.