Bowman Consulting Group (NASDAQ:BWMN) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase raised its price target on Bowman Consulting Group from $38 to $40 while maintaining a "neutral" rating, implying roughly a 13.4% upside from the current share price.
• Analyst views are mixed—three Buy and three Hold—yielding a MarketBeat average rating of "Moderate Buy" and an average price target of $47.50.
• Bowman reported a quarterly EPS miss ($0.14 vs. $0.21 expected) but beat on revenue ($126.48M); the stock trades around $35.28 with a P/E near 58.8, and CEO Gary Bowman sold 12,500 shares under a 10b5‑1 plan (insiders own 17.42%).

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 13.39% from the stock's current price.

Other equities analysts have also issued reports about the company. Zacks Research lowered Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Robert W. Baird decreased their price target on Bowman Consulting Group from $43.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Roth Mkm set a $58.00 price target on Bowman Consulting Group and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen lowered Bowman Consulting Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bowman Consulting Group in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.50.

Bowman Consulting Group Price Performance

NASDAQ BWMN traded up $0.53 on Friday, reaching $35.28. 126,351 shares of the stock traded hands, compared to its average volume of 141,285. The firm's fifty day simple moving average is $30.48 and its 200 day simple moving average is $33.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The company has a market cap of $603.91 million, a price-to-earnings ratio of 58.79, a P/E/G ratio of 2.11 and a beta of 1.36. Bowman Consulting Group has a 12 month low of $24.26 and a 12 month high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.07). The firm had revenue of $126.48 million for the quarter, compared to the consensus estimate of $114.49 million. Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.96%. As a group, research analysts predict that Bowman Consulting Group will post 0.95 EPS for the current fiscal year.

Insider Activity at Bowman Consulting Group

In other news, CEO Gary Bowman sold 12,500 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total transaction of $383,875.00. Following the transaction, the chief executive officer owned 906,575 shares of the company's stock, valued at approximately $27,840,918.25. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.42% of the company's stock.

Institutional Trading of Bowman Consulting Group

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position 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 worth $10,744,000 after acquiring an additional 43,624 shares during the period. Principal Financial Group Inc. lifted its position in shares of Bowman Consulting Group by 87.3% in the 1st quarter. Principal Financial Group Inc. now owns 29,005 shares of the company's stock worth $825,000 after acquiring an additional 13,523 shares during the period. Fifth Third Bancorp bought a new position in shares of Bowman Consulting Group during the 1st quarter worth approximately $196,000. Strs Ohio lifted its position in shares of Bowman Consulting Group by 7.1% during the 1st quarter. Strs Ohio now owns 18,100 shares of the company's stock worth $515,000 after buying an additional 1,200 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its position in shares of Bowman Consulting Group by 16.1% during the 1st quarter. Conestoga Capital Advisors LLC now owns 66,530 shares of the company's stock worth $1,892,000 after buying an additional 9,235 shares during the period. Institutional investors own 63.20% of the company's stock.

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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