Zacks Investment Research Upgrades NV5 Global, Inc. (NVEE) to Buy

NV5 Global, Inc. (NASDAQ:NVEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm currently has a $58.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.08% from the company’s current price.

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. “

NVEE has been the subject of several other research reports. BidaskClub downgraded shares of NV5 Global from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Seaport Global Securities reissued a “buy” rating and set a $61.00 price target (up previously from $42.00) on shares of NV5 Global in a report on Wednesday, October 11th. Lake Street Capital boosted their price target on shares of NV5 Global to $66.00 and gave the company a “buy” rating in a report on Thursday. Roth Capital boosted their price target on shares of NV5 Global from $48.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. Finally, ValuEngine raised shares of NV5 Global from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $58.00.

Shares of NV5 Global (NVEE) opened at $51.75 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.35 and a debt-to-equity ratio of 0.41. NV5 Global has a 12 month low of $32.35 and a 12 month high of $58.95. The firm has a market cap of $558.18, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. NV5 Global had a net margin of 5.23% and a return on equity of 14.75%. The company had revenue of $91.26 million during the quarter, compared to the consensus estimate of $103.15 million. equities research analysts forecast that NV5 Global will post 2.34 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in NV5 Global by 2.5% in the second quarter. Wells Fargo & Company MN now owns 5,083 shares of the business services provider’s stock worth $216,000 after purchasing an additional 126 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in NV5 Global by 1.6% in the first quarter. Parametric Portfolio Associates LLC now owns 14,596 shares of the business services provider’s stock worth $549,000 after purchasing an additional 232 shares during the period. American International Group Inc. lifted its holdings in NV5 Global by 7.1% in the first quarter. American International Group Inc. now owns 4,519 shares of the business services provider’s stock worth $170,000 after purchasing an additional 301 shares during the period. Nationwide Fund Advisors lifted its holdings in NV5 Global by 12.5% in the second quarter. Nationwide Fund Advisors now owns 5,851 shares of the business services provider’s stock worth $249,000 after purchasing an additional 652 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in NV5 Global by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,371 shares of the business services provider’s stock worth $272,000 after purchasing an additional 752 shares during the period. 56.28% of the stock is owned by institutional investors and hedge funds.

NV5 Global Company Profile

NV5 Global, Inc, formerly NV5 Holdings, Inc, is a holding company. The Company provides professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. It focuses on five business verticals: construction quality assurance, infrastructure, energy, program management, and environmental solutions.

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