Roth Mkm Issues Positive Forecast for NV5 Global (NASDAQ:NVEE) Stock Price

NV5 Global (NASDAQ:NVEE - Get Free Report) had its price objective upped by analysts at Roth Mkm from $27.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Roth Mkm's price objective indicates a potential upside of 51.60% from the company's current price.

Other analysts also recently issued research reports about the company. Robert W. Baird dropped their price target on NV5 Global from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, November 8th. StockNews.com downgraded shares of NV5 Global from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

NV5 Global Price Performance

NV5 Global 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 debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $1.20 billion, a PE ratio of 37.50, a PEG ratio of 2.63 and a beta of 1.23. The company's fifty day moving average is $18.44 and its 200-day moving average is $21.26.

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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). NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. The firm had revenue of $246.52 million during the quarter, compared to the consensus estimate of $243.46 million. On average, sell-side analysts forecast that NV5 Global will post 1.26 EPS for the current year.

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

Insider Activity

In other news, VP Richard Tong sold 20,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 45,584 shares in the company, valued at approximately $915,326.72. The trade was a 30.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On NV5 Global

A number of large investors have recently added to or reduced their stakes in NVEE. Vanguard Group Inc. grew its stake in shares of NV5 Global by 288.4% during the fourth quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider's stock valued at $70,875,000 after buying an additional 2,793,280 shares during the last quarter. Cercano Management LLC boosted its holdings in NV5 Global by 208.8% during the 4th quarter. Cercano Management LLC now owns 3,925,599 shares of the business services provider's stock valued at $73,958,000 after acquiring an additional 2,654,405 shares during the period. Dimensional Fund Advisors LP grew its position in NV5 Global by 310.6% during 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 acquiring an additional 1,901,998 shares during the last quarter. American Century Companies Inc. increased its stake 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 worth $40,456,000 after purchasing an additional 1,639,014 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $28,462,000 after purchasing an additional 1,420,417 shares during the last quarter. Hedge funds and other 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.