NV5 Global (NASDAQ:NVEE) to Buyback $20.00 million in Outstanding Stock

NV5 Global (NASDAQ:NVEE) declared that its board has approved a share repurchase program on Monday, January 6th, RTT News reports. The company plans to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. StockNews.com raised NV5 Global from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th.

NV5 Global Price Performance

Shares of NVEE opened at $18.50 on Wednesday. NV5 Global has a 1-year low of $18.42 and a 1-year high of $28.29. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 3.21 and a beta of 1.22. The company’s fifty day simple moving average is $21.19 and its 200 day simple moving average is $22.71. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30.

Insider Activity at NV5 Global

In other news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the sale, the vice president now owns 45,584 shares of the company’s stock, valued at approximately $915,326.72. This represents a 30.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

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.