Bowman Consulting Group (NASDAQ:BWMN) Approves Stock Repurchase Plan

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) announced that its board has approved a share repurchase plan on Friday, June 6th, RTT News reports. The company plans to buyback $25.00 million in shares. This buyback authorization permits the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Bowman Consulting Group Stock Up 1.3%

Shares of NASDAQ BWMN traded up $0.35 during mid-day trading on Friday, reaching $27.00. The company had a trading volume of 130,353 shares, compared to its average volume of 93,571. The stock has a fifty day moving average of $23.51 and a two-hundred day moving average of $24.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $465.29 million, a price-to-earnings ratio of -34.18 and a beta of 1.26. Bowman Consulting Group has a 12-month low of $17.90 and a 12-month high of $36.65.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.21). Bowman Consulting Group had a positive return on equity of 3.76% and a negative net margin of 2.62%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. B. Riley raised shares of Bowman Consulting Group to a "strong-buy" rating in a research note on Tuesday, March 18th. Bank of America reduced their price objective on shares of Bowman Consulting Group from $36.50 to $30.50 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Finally, Robert W. Baird upped their price objective on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bowman Consulting Group currently has an average rating of "Buy" and a consensus price target of $34.17.

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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