Bowman Consulting Group (NASDAQ:BWMN) Reaches New 1-Year High - Here's What Happened

Key Points

• Bowman Consulting Group stock reached a new 52-week high, trading at $37.06, an increase from its previous close of $35.95.
• Five analysts have rated the stock as a buy, with a consensus target price of $36.38, reflecting positive sentiment towards the company's performance.
• The company announced a $25 million share repurchase plan, indicating that the board believes shares are undervalued.
• Bowman Consulting Group reported a net margin of 0.54% and a loss of ($0.11) EPS for the latest quarter, missing analyst expectations.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $36.74 and last traded at $37.06, with a volume of 33997 shares. The stock had previously closed at $35.95.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BWMN shares. Robert W. Baird raised their price target on Bowman Consulting Group from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, B. Riley boosted 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 note on Wednesday, July 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.38.

Bowman Consulting Group Stock Performance

The company has a market cap of $612.18 million, a P/E ratio of 273.39, a price-to-earnings-growth ratio of 5.11 and a beta of 1.29. The company's fifty day moving average is $28.66 and its 200 day moving average is $24.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS 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 of Directors has initiated a stock repurchase program on Friday, June 6th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at Bowman Consulting Group

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

Institutional Investors Weigh In On Bowman Consulting Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position 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 period. Pembroke Management LTD boosted its position in Bowman Consulting Group by 12.8% during the 1st quarter. Pembroke Management LTD now owns 520,519 shares of the company's stock valued at $11,363,000 after acquiring an additional 59,197 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in shares of Bowman Consulting Group by 3.6% during the 1st quarter. Polar Asset Management Partners Inc. now owns 451,029 shares of the company's stock worth $9,846,000 after acquiring an additional 15,481 shares during the period. Swedbank AB raised its position in shares of Bowman Consulting Group by 108.2% in the 2nd quarter. Swedbank AB now owns 416,492 shares of the company's stock worth $11,974,000 after acquiring an additional 216,492 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its stake in shares of Bowman Consulting Group by 9.3% in the 1st quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company's stock valued at $8,908,000 after purchasing an additional 34,599 shares during the period. 63.20% of the stock is 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.