NV5 Global (NASDAQ:NVEE) Downgraded by BidaskClub

BidaskClub cut shares of NV5 Global (NASDAQ:NVEE) from a hold rating to a sell rating in a report released on Wednesday morning, BidAskClub reports.

NVEE has been the subject of a number of other research reports. Roth Capital reduced their price objective on NV5 Global from $96.00 to $91.00 and set a buy rating for the company in a research report on Thursday, August 8th. Maxim Group reduced their price objective on NV5 Global from $95.00 to $85.00 and set a buy rating for the company in a research report on Friday, November 8th. Zacks Investment Research lowered NV5 Global from a hold rating to a sell rating in a research report on Wednesday, September 25th. ValuEngine lowered NV5 Global from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Lake Street Capital reduced their price objective on NV5 Global from $98.00 to $86.00 and set a buy rating for the company in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $86.00.

Shares of NV5 Global stock traded down $0.51 during trading hours on Wednesday, reaching $51.39. The stock had a trading volume of 174,200 shares, compared to its average volume of 177,173. The firm has a market capitalization of $665.30 million, a price-to-earnings ratio of 15.86, a P/E/G ratio of 0.80 and a beta of 1.46. The firm has a 50 day simple moving average of $67.87 and a two-hundred day simple moving average of $72.58. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.21. NV5 Global has a 1 year low of $50.65 and a 1 year high of $85.60.

NV5 Global (NASDAQ:NVEE) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.26). The firm had revenue of $131.03 million during the quarter, compared to analyst estimates of $139.05 million. NV5 Global had a return on equity of 12.95% and a net margin of 5.66%. NV5 Global’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. Sell-side analysts forecast that NV5 Global will post 3.26 EPS for the current year.

In other NV5 Global news, VP Richard Tong sold 2,000 shares of NV5 Global stock in a transaction on Friday, November 1st. The stock was sold at an average price of $72.23, for a total transaction of $144,460.00. Following the sale, the vice president now owns 32,588 shares of the company’s stock, valued at approximately $2,353,831.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Alexander A. Hockman sold 10,000 shares of NV5 Global stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.82, for a total value of $718,200.00. Following the sale, the chief operating officer now directly owns 176,837 shares in the company, valued at approximately $12,700,433.34. The disclosure for this sale can be found here. Insiders have sold a total of 38,247 shares of company stock valued at $2,783,424 in the last 90 days. Insiders own 19.62% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NVEE. Steward Partners Investment Advisory LLC bought a new stake in NV5 Global during the 2nd quarter valued at $32,000. Tower Research Capital LLC TRC bought a new stake in NV5 Global during the 2nd quarter valued at $44,000. Cutler Group LP bought a new stake in NV5 Global during the 3rd quarter valued at $47,000. Bank of Montreal Can raised its stake in NV5 Global by 1,050.6% during the 2nd quarter. Bank of Montreal Can now owns 932 shares of the business services provider’s stock valued at $76,000 after acquiring an additional 851 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in NV5 Global by 49.2% during the 2nd quarter. Advisor Group Inc. now owns 980 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 323 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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