Bowman Consulting Group (NASDAQ:BWMN) Downgraded by Wall Street Zen to Hold

Key Points

• Bowman Consulting Group was downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating reduced investor confidence.
• The company's stock has a current market cap of $622.52 million and is trading at about $36.13 per share, which reflects a significant increase from its twelve-month low of $17.90.
• Bowman Consulting's Board of Directors has initiated a $25 million stock repurchase plan, suggesting they believe the stock is undervalued.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. B. Riley raised their price objective on shares of Bowman Consulting Group from $33.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.38.

Bowman Consulting Group Trading Down 0.7%

Shares of BWMN stock traded down $0.26 during mid-day trading on Friday, reaching $35.16. The stock had a trading volume of 156,868 shares, compared to its average volume of 131,580. The stock's 50-day moving average price is $28.84 and its two-hundred day moving average price is $25.07. Bowman Consulting Group has a 52-week low of $17.90 and a 52-week high of $37.34. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $605.81 million, a PE ratio of 270.46, a price-to-earnings-growth ratio of 5.01 and a beta of 1.29.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued 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 net margin of 0.54% and a return on equity of 2.74%.

Bowman Consulting Group announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of Bowman Consulting Group stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $26.70, for a total transaction of $133,500.00. Following the transaction, the insider owned 176,685 shares of the company's stock, valued at $4,717,489.50. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,024 shares of company stock worth $162,514 in the last three months. Insiders own 17.42% of the company's stock.

Hedge Funds Weigh In On Bowman Consulting Group

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Bowman Consulting Group during the fourth quarter valued at approximately $42,000. Brooklyn Investment Group purchased a new position in Bowman Consulting Group during the first quarter valued at approximately $45,000. GAMMA Investing LLC lifted its holdings in Bowman Consulting Group by 1,856.3% during the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock valued at $99,000 after purchasing an additional 4,288 shares in the last quarter. NBC Securities Inc. lifted its holdings in Bowman Consulting Group by 100,080.0% during the first quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock valued at $109,000 after purchasing an additional 5,004 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Bowman Consulting Group by 55.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,524 shares of the company's stock worth $163,000 after buying an additional 2,316 shares in the last quarter. Hedge funds and other institutional investors own 63.20% of the company's stock.

Bowman Consulting Group Company Profile

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.