NV5 Global (NASDAQ:NVEE) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of NV5 Global (NASDAQ:NVEE) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “NV5 Holding Inc. offers professional, technical consulting and certification solutions for public and private sector. The company focuses on business services which include construction quality assurance, infrastructure engineering, energy services, program management, and environmental services. It operates in California, Colorado, Utah, Florida and New Jersey. NV5 Holding Inc. is headquartered in Hollywood, Florida. “

A number of other analysts have also recently commented on NVEE. Roth Capital boosted their price target on NV5 Global from $90.00 to $96.00 and gave the stock a buy rating in a research report on Thursday, May 9th. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Maxim Group reissued a buy rating and issued a $85.00 price target on shares of NV5 Global in a research report on Wednesday, June 5th. Finally, Singular Research reissued a buy rating on shares of Olympic Steel in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $91.83.

Shares of NVEE opened at $82.07 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a 50 day moving average of $79.83. NV5 Global has a 52 week low of $51.46 and a 52 week high of $96.70. The company has a market cap of $1.03 billion, a PE ratio of 24.14, a P/E/G ratio of 1.07 and a beta of 1.31.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. NV5 Global had a return on equity of 14.09% and a net margin of 6.38%. The firm had revenue of $117.34 million for the quarter, compared to analysts’ expectations of $114.72 million. As a group, sell-side analysts forecast that NV5 Global will post 3.82 EPS for the current fiscal year.

In related news, VP Donald C. Alford sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $72.70, for a total value of $727,000.00. Following the transaction, the vice president now directly owns 32,688 shares of the company’s stock, valued at approximately $2,376,417.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael P. Rama sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $62.51, for a total value of $31,255.00. Following the completion of the transaction, the chief financial officer now directly owns 28,800 shares in the company, valued at $1,800,288. The disclosure for this sale can be found here. Insiders sold a total of 45,500 shares of company stock worth $3,489,545 over the last ninety days. 19.62% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BBT Capital Management LLC bought a new position in NV5 Global in the 1st quarter valued at approximately $275,000. BlackRock Inc. lifted its position in NV5 Global by 0.8% in the 4th quarter. BlackRock Inc. now owns 672,508 shares of the business services provider’s stock valued at $40,721,000 after acquiring an additional 5,160 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in NV5 Global by 8.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,366 shares of the business services provider’s stock valued at $730,000 after acquiring an additional 956 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of NV5 Global by 35.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 19,000 shares of the business services provider’s stock valued at $1,128,000 after buying an additional 5,000 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of NV5 Global during the 4th quarter valued at $228,000. 62.16% of the stock is currently owned by institutional investors and hedge funds.

About NV5 Global

NV5 Global, Inc provides professional and technical engineering and consulting services to public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets in the United States and internationally. It operates through two segments, Infrastructure; and Building, Technology & Sciences.

Featured Story: What are popular green investing opportunities?

Get a free copy of the Zacks research report on NV5 Global (NVEE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for NV5 Global (NASDAQ:NVEE)

Receive News & Ratings for NV5 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NV5 Global and related companies with MarketBeat.com's FREE daily email newsletter.