NV5 Global (NASDAQ:NVEE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of NV5 Global (NASDAQ:NVEE) from a strong-buy rating to a hold rating in a report released on Wednesday, 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. “

Other equities research analysts also recently issued research reports about the company. Singular Research restated a buy rating on shares of Olympic Steel in a research report on Wednesday, March 13th. Roth Capital lifted their target price on NV5 Global from $90.00 to $96.00 and gave the company a buy rating in a research report on Thursday, May 9th. Maxim Group restated a buy rating and issued a $85.00 target price on shares of NV5 Global in a research report on Wednesday, June 5th. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. NV5 Global has a consensus rating of Buy and a consensus target price of $91.83.



NV5 Global stock traded up $0.21 during trading on Wednesday, reaching $82.16. 68,900 shares of the company were exchanged, compared to its average volume of 115,370. NV5 Global has a 52-week low of $51.46 and a 52-week high of $96.70. The firm has a market capitalization of $1.03 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.08 and a beta of 1.31. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average price is $79.75.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $114.72 million. Equities research analysts predict that NV5 Global will post 3.82 earnings per share for the current year.

In related news, Chairman Dickerson Wright sold 15,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $73.52, for a total transaction of $1,102,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael P. Rama sold 500 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $62.51, for a total value of $31,255.00. Following the transaction, the chief financial officer now directly owns 28,800 shares of the company’s stock, valued at $1,800,288. The disclosure for this sale can be found here. Insiders sold 45,500 shares of company stock valued at $3,489,545 over the last ninety days. Insiders own 19.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in NV5 Global by 43.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 603 shares of the business services provider’s stock worth $36,000 after buying an additional 183 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in NV5 Global by 65,400.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,965 shares of the business services provider’s stock worth $117,000 after buying an additional 1,962 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in NV5 Global by 410.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,144 shares of the business services provider’s stock worth $190,000 after buying an additional 2,528 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in NV5 Global during the 2nd quarter worth about $225,000. Finally, Squarepoint Ops LLC purchased a new stake in NV5 Global during the 4th quarter worth about $228,000. 62.16% of the stock is 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.

Read More: What is the Producer Price Index (PPI)?

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.