NV5 Global (NASDAQ:NVEE) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of NV5 Global (NASDAQ:NVEE) from a hold rating to a sell rating in a research report report published on Friday 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. “

Several other brokerages also recently weighed in on NVEE. ValuEngine downgraded shares of NV5 Global from a buy rating to a hold rating in a research note on Thursday, August 1st. Maxim Group reissued a buy rating and issued a $85.00 target price on shares of NV5 Global in a research note on Wednesday, June 5th. BidaskClub downgraded shares of NV5 Global from a buy rating to a hold rating in a research note on Tuesday, August 13th. Finally, Roth Capital reduced their target price on shares of NV5 Global from $96.00 to $91.00 and set a buy rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. NV5 Global presently has an average rating of Hold and an average price target of $88.25.



Shares of NVEE opened at $73.44 on Friday. NV5 Global has a twelve month low of $51.46 and a twelve month high of $96.70. The company has a market cap of $962.41 million, a P/E ratio of 22.67, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $67.94 and its 200-day simple moving average is $70.94.

NV5 Global (NASDAQ:NVEE) last announced its earnings results on Wednesday, August 7th. The business services provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.06. NV5 Global had a net margin of 6.30% and a return on equity of 13.32%. The business had revenue of $127.97 million for the quarter, compared to the consensus estimate of $127.57 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Analysts predict that NV5 Global will post 3.8 earnings per share for the current fiscal year.

In related news, COO Alexander A. Hockman sold 6,464 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $79.30, for a total value of $512,595.20. Following the transaction, the chief operating officer now owns 204,716 shares of the company’s stock, valued at approximately $16,233,978.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Tong sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $78.74, for a total transaction of $157,480.00. Following the completion of the transaction, the vice president now directly owns 34,588 shares in the company, valued at approximately $2,723,459.12. The disclosure for this sale can be found here. Company insiders own 19.62% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new position in NV5 Global in the 2nd quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NV5 Global by 43.6% in 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 period. Tower Research Capital LLC TRC purchased a new position in NV5 Global in the 2nd quarter worth about $44,000. Bank of Montreal Can increased its stake in NV5 Global by 1,050.6% in the 2nd quarter. Bank of Montreal Can now owns 932 shares of the business services provider’s stock worth $76,000 after buying an additional 851 shares during the period. Finally, Advisor Group Inc. increased its stake in NV5 Global by 49.2% in the 2nd quarter. Advisor Group Inc. now owns 980 shares of the business services provider’s stock worth $79,000 after buying an additional 323 shares during the period. 61.14% of the stock is currently owned by 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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