Bowman Consulting Group (NASDAQ:BWMN) Cut to "Underweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Bowman Consulting Group to “underweight” from “neutral” and set a $43 price target, implying only about 1% upside from the prior close. MarketBeat reports an overall “Reduce” consensus rating and an average target of $44.71.
• Bowman exceeded quarterly expectations, reporting $0.62 earnings per share versus the $0.47 consensus and revenue of $146.13 million versus $129.35 million expected.
• The stock opened at $42.55 and carries a high valuation, with a market capitalization of about $737.8 million and a price-to-earnings ratio of 106.37; institutional investors own 63.2% of the shares.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) was downgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $43.00 target price on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 1.06% from the company's previous close.

BWMN has been the subject of a number of other research reports. Texas Capital downgraded Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Roth Capital downgraded shares of Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Bowman Consulting Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Capital One Financial set a $43.00 price target on shares of Bowman Consulting Group in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $44.71.

Bowman Consulting Group Price Performance

NASDAQ BWMN opened at $42.55 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. Bowman Consulting Group has a 1-year low of $25.07 and a 1-year high of $45.83. The company has a 50 day moving average of $30.64 and a 200-day moving average of $31.24. The company has a market cap of $737.82 million, a price-to-earnings ratio of 106.37 and a beta of 1.36.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $146.13 million during the quarter, compared to analysts' expectations of $129.35 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. On average, equities research analysts expect that Bowman Consulting Group will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bowman Consulting Group news, Director Patricia Mulroy sold 883 shares of Bowman Consulting Group 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 completion of the sale, the director directly owned 26,330 shares of the company's stock, valued at approximately $1,115,602.10. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Bowman Consulting Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in Bowman Consulting Group by 77.5% in the 1st quarter. Renaissance Technologies LLC now owns 99,379 shares of the company's stock valued at $2,826,000 after purchasing an additional 43,379 shares during the period. Summit Creek Advisors LLC lifted its stake in shares of Bowman Consulting Group by 10.1% in the fourth quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company's stock valued at $13,178,000 after buying an additional 36,645 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Bowman Consulting Group during the fourth quarter valued at about $2,141,000. Dimensional Fund Advisors LP increased its position in shares of Bowman Consulting Group by 13.1% during the first quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company's stock worth $10,744,000 after acquiring an additional 43,624 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of Bowman Consulting Group by 12.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company's stock worth $9,101,000 after acquiring an additional 34,976 shares during the last quarter. Institutional investors own 63.20% of the company's stock.

Bowman Consulting Group Company Profile

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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