Bowman Consulting Group (NASDAQ:BWMN) Sets New 52-Week High - Time to Buy?

Key Points

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Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.12 and last traded at $39.86, with a volume of 27222 shares. The stock had previously closed at $39.63.

Analyst Upgrades and Downgrades

BWMN has been the subject of several recent research reports. B. Riley increased their price target on shares of Bowman Consulting Group from $33.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Robert W. Baird increased their price target on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Zacks Research raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $34.17.

Bowman Consulting Group Price Performance

The stock has a fifty day moving average of $32.87 and a two-hundred day moving average of $26.55. The stock has a market capitalization of $702.94 million, a price-to-earnings ratio of 67.92, a PEG ratio of 3.38 and a beta of 1.31. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group announced that its board has authorized a share buyback plan on Friday, June 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Robert Alan Hickey sold 5,000 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $26.70, for a total transaction of $133,500.00. Following the completion of the sale, the insider directly owned 176,685 shares of the company's stock, valued at $4,717,489.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 6,024 shares of company stock worth $162,514. Company insiders own 17.42% of the company's stock.

Institutional Trading of Bowman Consulting Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Bowman Consulting Group by 28.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock valued at $41,000 after purchasing an additional 317 shares in the last quarter. Comerica Bank increased its holdings in shares of Bowman Consulting Group by 7.0% in the first quarter. Comerica Bank now owns 11,532 shares of the company's stock valued at $252,000 after purchasing an additional 751 shares in the last quarter. Boston Partners increased its holdings in shares of Bowman Consulting Group by 3.5% in the second quarter. Boston Partners now owns 23,738 shares of the company's stock valued at $682,000 after purchasing an additional 813 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Bowman Consulting Group by 4.7% in the first quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock valued at $411,000 after purchasing an additional 845 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock valued at $66,000 after purchasing an additional 1,633 shares in the last quarter. Institutional investors and hedge funds own 63.20% of the company's stock.

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.