Bowman Consulting Group (NASDAQ:BWMN) Sets New 1-Year High - What's Next?

Key Points

• Bowman Consulting Group's stock price surged to a new **52-week high** of **$43.21**, closing at **$42.01** with a trading volume of **126,550 shares**.
• Analysts have increased their price targets for Bowman Consulting Group, with B. Riley setting a new target of **$55.00**, while the company holds a consensus rating of **"Buy"** and an average target price of **$38.17**.
• The company has authorized a **$25 million stock buyback program**, indicative of the board's belief that its shares are currently **undervalued**.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $43.21 and last traded at $42.01, with a volume of 126550 shares traded. The stock had previously closed at $42.43.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BWMN. B. Riley raised their price target on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Zacks Research raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Robert W. Baird lifted their price objective on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $38.17.

Bowman Consulting Group Price Performance

The stock has a 50 day moving average price of $34.66 and a two-hundred day moving average price of $27.34. The firm has a market cap of $721.50 million, a PE ratio of 69.53 and a beta of 1.33. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group declared that its Board of Directors has authorized a stock buyback program 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 programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $26.70, for a total value of $133,500.00. Following the completion of the sale, the insider directly owned 176,685 shares in the company, valued at $4,717,489.50. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 6,024 shares of company stock valued at $162,514. 17.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bowman Consulting Group

A number of hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its holdings in 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. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group in the 4th quarter worth about $42,000. Brooklyn Investment Group acquired a new position in shares of Bowman Consulting Group in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC lifted its position in Bowman Consulting Group by 244.5% during the 2nd 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 in the last quarter. Finally, GAMMA Investing LLC lifted its position in Bowman Consulting Group by 1,856.3% during the 1st quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock worth $99,000 after acquiring an additional 4,288 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.

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