NV5 Global (NASDAQ:NVEE) Price Target Lowered to $24.00 at Maxim Group

NV5 Global (NASDAQ:NVEE - Free Report) had its price target trimmed by Maxim Group from $29.00 to $24.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the business services provider's stock.

Several other analysts have also recently commented on the company. Roth Mkm upped their target price on NV5 Global from $27.00 to $28.00 and gave the company a "buy" rating in a report on Friday. StockNews.com downgraded NV5 Global from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird lowered 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. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

NV5 Global Price Performance

NVEE stock traded up $0.34 during midday trading on Friday, reaching $18.47. 574,876 shares of the stock were exchanged, compared to its average volume of 443,999. NV5 Global has a 52 week low of $16.77 and a 52 week high of $26.16. The company has a fifty day moving average price of $18.44 and a 200 day moving average price of $21.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $1.20 billion, a PE ratio of 37.50, a P/E/G ratio of 2.63 and a beta of 1.23.

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NV5 Global (NASDAQ:NVEE - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $246.52 million for the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. As a group, analysts expect that NV5 Global will post 1.26 EPS for the current fiscal year.

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

Insiders Place Their Bets

In related news, VP Richard Tong sold 20,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.08, for a total value of $401,600.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.40% of the company's stock.

Institutional Trading of NV5 Global

Several hedge funds and other institutional investors have recently bought and sold shares of NVEE. Vanguard Group Inc. lifted its stake in 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 period. Cercano Management LLC raised its stake in NV5 Global by 208.8% during the fourth quarter. Cercano Management LLC now owns 3,925,599 shares of the business services provider's stock valued at $73,958,000 after buying an additional 2,654,405 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in NV5 Global by 310.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,514,316 shares of the business services provider's stock worth $47,370,000 after purchasing an additional 1,901,998 shares in the last quarter. American Century Companies Inc. increased its position in shares of NV5 Global by 322.4% during the fourth quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider's stock valued at $40,456,000 after acquiring an additional 1,639,014 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of NV5 Global by 1,572.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider's stock worth $28,462,000 after purchasing an additional 1,420,417 shares during the last quarter. Institutional investors own 75.54% of the company's stock.

NV5 Global Company Profile

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.