Bowman Consulting Group Ltd. (NASDAQ:BWMN) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Bowman Consulting Group Ltd. (NASDAQ:BWMN) has received a consensus rating of "Buy" from analysts, with projections indicating an average 12-month price target of $38.17.
• The company's Board of Directors approved a $25 million stock buyback program, which allows buybacks of up to 5.4% of its outstanding shares, signaling confidence in the stock's valuation.
• Recent insider trading saw notable sales, including Director Stephen A. Riddick selling 3,000 shares at an average price of $41.04, indicating a 13.98% decrease in their position.

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $38.1667.

Several research analysts have weighed in on BWMN shares. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bowman Consulting Group in a research note on Saturday, September 27th. Zacks Research upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, B. Riley upped their price objective on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, August 29th.

Bowman Consulting Group Stock Down 0.7%

Bowman Consulting Group stock traded down $0.29 during trading hours on Friday, hitting $41.46. The company had a trading volume of 64,749 shares, compared to its average volume of 122,224. The firm has a market capitalization of $715.19 million, a P/E ratio of 69.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 1.26. The firm's fifty day moving average is $40.01 and its 200-day moving average is $30.73. Bowman Consulting Group has a fifty-two week low of $17.90 and a fifty-two week high of $44.25.

Bowman Consulting Group declared that its Board of Directors has approved a stock buyback program on Friday, June 6th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Bowman Consulting Group

In other news, Director Stephen A. Riddick sold 3,000 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $41.04, for a total transaction of $123,120.00. Following the transaction, the director owned 18,461 shares in the company, valued at $757,639.44. This represents a 13.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Daniel Swayze sold 1,350 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $41.33, for a total transaction of $55,795.50. Following the transaction, the chief operating officer owned 10,954 shares in the company, valued at approximately $452,728.82. This trade represents a 10.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,350 shares of company stock worth $1,459,716. Company insiders own 17.42% of the company's stock.

Institutional Trading of Bowman Consulting Group

Several large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Bowman Consulting Group by 28.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock worth $41,000 after buying an additional 317 shares during the period. Comerica Bank boosted its holdings in shares of Bowman Consulting Group by 7.0% during the 1st quarter. Comerica Bank now owns 11,532 shares of the company's stock worth $252,000 after buying an additional 751 shares during the period. Boston Partners boosted its holdings in shares of Bowman Consulting Group by 3.5% during the 2nd quarter. Boston Partners now owns 23,738 shares of the company's stock worth $682,000 after buying an additional 813 shares during the period. Rhumbline Advisers boosted its holdings in shares of Bowman Consulting Group by 4.7% during the 1st quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock worth $411,000 after buying an additional 845 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Bowman Consulting Group by 244.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after buying an additional 1,633 shares during the period. 63.20% of the stock is owned by institutional investors.

About Bowman Consulting Group

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.

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