NV5 Global (NASDAQ:NVEE) Trading 9% Higher - Time to Buy?

NV5 Global, Inc. (NASDAQ:NVEE - Get Free Report)'s share price was up 9% during trading on Monday . The company traded as high as $17.33 and last traded at $17.50. Approximately 111,315 shares changed hands during trading, a decline of 73% from the average daily volume of 412,378 shares. The stock had previously closed at $16.06.

Wall Street Analysts Forecast Growth

NVEE has been the topic of several recent analyst reports. Maxim Group cut their price target on shares of NV5 Global from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, February 21st. StockNews.com cut shares of NV5 Global from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Roth Mkm raised their price objective on shares of NV5 Global from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, February 21st.

NV5 Global Price Performance

The firm has a market cap of $1.13 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a 50-day simple moving average of $17.59 and a 200 day simple moving average of $19.46.

NV5 Global (NASDAQ:NVEE - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $246.52 million for the quarter, compared to the consensus estimate of $243.46 million. NV5 Global had a return on equity of 9.34% and a net margin of 3.25%. As a group, equities analysts expect that NV5 Global, Inc. will post 1.26 EPS for the current year.

NV5 Global announced that its board has approved a stock buyback program on Monday, January 6th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On NV5 Global

Several institutional investors and hedge funds have recently modified their holdings of NVEE. Conestoga Capital Advisors LLC grew its position in NV5 Global by 17.7% during the 1st quarter. Conestoga Capital Advisors LLC now owns 73,872 shares of the business services provider's stock valued at $1,424,000 after purchasing an additional 11,120 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of NV5 Global by 8.7% during the first quarter. Janney Montgomery Scott LLC now owns 14,953 shares of the business services provider's stock valued at $288,000 after acquiring an additional 1,203 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of NV5 Global by 3.3% during the first quarter. Azzad Asset Management Inc. ADV now owns 43,471 shares of the business services provider's stock valued at $838,000 after acquiring an additional 1,392 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in NV5 Global by 42.6% during the 1st quarter. Handelsbanken Fonder AB now owns 14,400 shares of the business services provider's stock valued at $277,000 after purchasing an additional 4,300 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of NV5 Global by 95.5% during the first quarter. SG Americas Securities LLC now owns 24,365 shares of the business services provider's stock valued at $470,000 after buying an additional 11,899 shares during the last quarter. 75.54% of the stock is currently owned by institutional investors.

About NV5 Global

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.

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