NV5 Global (NASDAQ:NVEE) Trading Up 9% - Still a Buy?

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

Analysts Set New Price Targets

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

NV5 Global Stock Up 1.2 %

The firm's fifty day simple moving average is $17.63 and its 200 day simple moving average is $19.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 2.63 and a beta of 1.07.

NV5 Global (NASDAQ:NVEE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $229.89 million. NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. On average, sell-side analysts forecast that NV5 Global, Inc. will post 1.26 earnings per share for the current year.

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

Institutional Investors Weigh In On NV5 Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas increased its position in shares of NV5 Global by 300.0% in the fourth quarter. BNP Paribas now owns 1,400 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,050 shares during the last quarter. Sterling Capital Management LLC lifted its stake in NV5 Global by 3,320.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,505 shares of the business services provider's stock valued at $28,000 after acquiring an additional 1,461 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of NV5 Global by 287.7% in the 4th quarter. Blue Trust Inc. now owns 2,512 shares of the business services provider's stock valued at $47,000 after purchasing an additional 1,864 shares during the period. GAMMA Investing LLC boosted its stake in shares of NV5 Global by 9,916.7% during the 1st quarter. GAMMA Investing LLC now owns 3,005 shares of the business services provider's stock worth $58,000 after acquiring an additional 2,975 shares during the period. Finally, Signaturefd LLC bought a new position in NV5 Global during the first quarter worth $66,000. 75.54% of the stock is currently owned by institutional investors and hedge funds.

NV5 Global Company Profile

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.