Roth Mkm Raises NV5 Global (NASDAQ:NVEE) Price Target to $28.00

NV5 Global (NASDAQ:NVEE) had its price objective upped by research analysts at Roth Mkm from $27.00 to $28.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Roth Mkm’s price objective would suggest a potential upside of 57.18% from the stock’s current price.

Several other equities analysts also recently commented on NVEE. StockNews.com downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird decreased their price target on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th.

NV5 Global Stock Up 2.2 %

Shares of NVEE stock traded up $0.38 during trading on Friday, reaching $17.81. The company’s stock had a trading volume of 371,024 shares, compared to its average volume of 412,535. The business has a fifty day moving average price of $18.52 and a 200-day moving average price of $21.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.23. NV5 Global has a one year low of $16.77 and a one year high of $27.77.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $246.52 million during the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a return on equity of 9.45% and a net margin of 3.86%. Analysts anticipate that NV5 Global will post 1.19 earnings per share for the current year.

NV5 Global announced that its Board of Directors has initiated a share repurchase program on Monday, January 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Richard Tong sold 20,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of the transaction, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cercano Management LLC lifted its holdings in shares of NV5 Global by 208.8% in the fourth quarter. Cercano Management LLC now owns 3,925,599 shares of the business services provider’s stock worth $73,958,000 after acquiring an additional 2,654,405 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of NV5 Global by 288.4% in the fourth quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider’s stock worth $70,875,000 after acquiring an additional 2,793,280 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NV5 Global by 310.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,514,316 shares of the business services provider’s stock worth $47,370,000 after acquiring an additional 1,901,998 shares during the last quarter. American Century Companies Inc. raised its holdings in NV5 Global by 322.4% in the 4th quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider’s stock valued at $40,456,000 after buying an additional 1,639,014 shares during the last quarter. Finally, Swedbank AB raised its holdings in NV5 Global by 366.4% in the 4th quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after buying an additional 1,282,296 shares during the last quarter. 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.