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

Key Points

• Analysts rate Bowman Consulting Group “Reduce”: One analyst recommends selling while seven rate the stock a hold, with an average 12-month price target of $44.71. Several firms recently downgraded the shares to neutral, hold, or underweight.
• Bowman reported quarterly earnings of $0.62 per share, beating the $0.47 consensus estimate, while revenue of $146.13 million exceeded expectations of $129.35 million.
• The stock recently traded at $42.50, near its 52-week high of $45.83, and institutional investors own 63.2% of outstanding shares. Director Patricia Mulroy also sold 883 shares under a pre-arranged trading plan.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) has received a consensus recommendation of "Reduce" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $44.7143.

BWMN has been the subject of a number of research reports. Roth Capital cut Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a report on Wednesday, August 12th. Wolfe Research set a $43.00 price objective on Bowman Consulting Group in a research report on Tuesday, August 11th. JPMorgan Chase & Co. downgraded Bowman Consulting Group from a "neutral" rating to an "underweight" rating and increased their price objective for the stock from $40.00 to $43.00 in a report on Friday. Craig Hallum lowered Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Bowman Consulting Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th.

Insider Activity

In other news, Director Patricia Mulroy sold 883 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the sale, the director owned 26,330 shares of the company's stock, valued at $1,115,602.10. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Bowman Consulting Group during the second quarter valued at approximately $31,113,000. Vanguard Group Inc. increased its position in shares of Bowman Consulting Group by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 802,969 shares of the company's stock worth $34,014,000 after purchasing an additional 13,366 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Bowman Consulting Group by 3,560.2% during the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company's stock worth $22,233,000 after purchasing an additional 510,527 shares during the last quarter. Summit Creek Advisors LLC raised its stake in shares of Bowman Consulting Group by 10.1% during the 4th quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company's stock worth $13,178,000 after purchasing an additional 36,645 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Bowman Consulting Group by 13.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company's stock valued at $10,744,000 after buying an additional 43,624 shares during the last quarter. 63.20% of the stock is currently owned by institutional investors and hedge funds.

Bowman Consulting Group Stock Down 0.3%

NASDAQ BWMN traded down $0.11 during trading hours on Monday, reaching $42.50. 59,663 shares of the company's stock were exchanged, compared to its average volume of 188,140. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $736.98 million, a price-to-earnings ratio of 106.25 and a beta of 1.36. The company's 50-day moving average is $30.87 and its two-hundred day moving average is $31.30. Bowman Consulting Group has a one year low of $25.07 and a one year high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $146.13 million during the quarter, compared to analysts' expectations of $129.35 million. On average, analysts forecast that Bowman Consulting Group will post 0.8 EPS for the current fiscal year.

About Bowman Consulting Group

Bowman Consulting Group Ltd. NASDAQ: BWMN is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.

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