NV5 Global (NASDAQ:NVEE) Given New $24.00 Price Target at Maxim Group

NV5 Global (NASDAQ:NVEE) had its target price cut by Maxim Group from $29.00 to $24.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

NVEE has been the topic of several other research reports. StockNews.com downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird decreased their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Roth Mkm upped their target price on shares of NV5 Global from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, NV5 Global has a consensus rating of “Moderate Buy” and an average price target of $25.67.

NV5 Global Price Performance

Shares of NV5 Global stock opened at $17.75 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of 31.56, a P/E/G ratio of 2.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The stock’s fifty day moving average is $18.52 and its 200 day moving average is $21.38. NV5 Global has a one year low of $16.77 and a one year high of $27.77.

NV5 Global (NASDAQ:NVEE) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. The company had revenue of $246.52 million during the quarter, compared to the consensus estimate of $243.46 million. Sell-side analysts anticipate that NV5 Global will post 1.19 earnings per share for the current 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 shares. This repurchase authorization allows the business services provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at NV5 Global

In other NV5 Global news, VP Richard Tong sold 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the sale, the vice president now owns 45,584 shares in the company, valued at $915,326.72. The trade was a 30.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas boosted its stake in NV5 Global by 300.0% during the fourth quarter. BNP Paribas now owns 1,400 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,050 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of NV5 Global by 3,320.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider’s stock worth $28,000 after acquiring an additional 1,461 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of NV5 Global by 287.7% during the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider’s stock worth $47,000 after acquiring an additional 1,864 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of NV5 Global by 296.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,584 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 2,680 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of NV5 Global by 527.5% in the fourth quarter. KBC Group NV now owns 4,223 shares of the business services provider’s stock valued at $80,000 after purchasing an additional 3,550 shares in the last quarter. Hedge funds and other institutional investors own 75.54% of the company’s stock.

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.