Bowman Consulting Group (NASDAQ:BWMN) Upgraded at Wall Street Zen

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

Several other equities analysts also recently commented on BWMN. Robert W. Baird raised their target price on Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. B. Riley upped their target price on Bowman Consulting Group from $33.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $36.38.

Bowman Consulting Group Price Performance

BWMN stock traded down $1.01 during trading hours on Friday, hitting $31.48. 73,975 shares of the stock traded hands, compared to its average volume of 95,138. Bowman Consulting Group has a one year low of $17.90 and a one year high of $36.65. The company has a market cap of $542.49 million, a P/E ratio of 242.15, a P/E/G ratio of 4.45 and a beta of 1.29. 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 stock has a 50-day simple moving average of $27.64 and a 200 day simple moving average of $24.60.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a return on equity of 2.74% and a net margin of 0.54%.

Bowman Consulting Group declared that its board has initiated a share repurchase plan on Friday, June 6th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Bowman Consulting Group

In related 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 value of $133,500.00. Following the sale, the insider owned 176,685 shares of the company's stock, valued at approximately $4,717,489.50. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 6,724 shares of company stock worth $177,970. 17.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Bowman Consulting Group by 4.7% in the first quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock worth $411,000 after buying an additional 845 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Bowman Consulting Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 800,748 shares of the company's stock valued at $19,979,000 after buying an additional 13,198 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Bowman Consulting Group by 97.7% during the fourth quarter. Bank of America Corp DE now owns 18,834 shares of the company's stock valued at $470,000 after buying an additional 9,307 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bowman Consulting Group by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 32,031 shares of the company's stock valued at $799,000 after buying an additional 586 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Bowman Consulting Group by 1,856.3% in the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock worth $99,000 after purchasing an additional 4,288 shares during the last quarter. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

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.