Bowman Consulting Group (NASDAQ:BWMN) Reaches New 12-Month High - Still a Buy?

Key Points

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Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $40.12 and last traded at $39.86, with a volume of 27222 shares changing hands. The stock had previously closed at $39.63.

Analyst Ratings Changes

BWMN has been the subject of several analyst reports. B. Riley raised their price target on shares of Bowman Consulting Group from $33.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Robert W. Baird raised 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. Zacks Research raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, Bowman Consulting Group currently has an average rating of "Buy" and an average target price of $34.17.

Bowman Consulting Group Stock Up 0.1%

The company's 50 day moving average price is $31.90 and its two-hundred day moving average price is $26.15. The firm has a market cap of $683.96 million, a PE ratio of 66.08, a PEG ratio of 5.54 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 declared that its board has authorized a share repurchase plan on Friday, June 6th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are 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 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 directly owned 176,685 shares in the company, valued at approximately $4,717,489.50. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 6,024 shares of company stock valued at $162,514. Insiders own 17.42% of the company's stock.

Institutional Trading of Bowman Consulting Group

A number of large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its stake in shares of Bowman Consulting Group by 28.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock worth $41,000 after purchasing an additional 317 shares during the period. Comerica Bank increased its stake in Bowman Consulting Group by 7.0% during the 1st 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 stake in Bowman Consulting Group by 3.5% during the 2nd 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 stake in Bowman Consulting Group by 4.7% during the 1st 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 stake 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 worth $66,000 after acquiring an additional 1,633 shares during the period. 63.20% of the stock is currently owned by institutional investors.

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.

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