Bowman Consulting Group (NASDAQ:BWMN) Shares Up 4.9% on Analyst Upgrade

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report)'s stock price rose 4.9% on Wednesday after B. Riley raised their price target on the stock from $33.00 to $43.00. B. Riley currently has a buy rating on the stock. Bowman Consulting Group traded as high as $32.78 and last traded at $32.16. Approximately 298,852 shares changed hands during trading, an increase of 215% from the average daily volume of 94,933 shares. The stock had previously closed at $30.67.

Several other research analysts have also recently commented on the company. Wall Street Zen cut Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird boosted their price objective 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bowman Consulting Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.38.

Insider Activity 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 that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 6,724 shares of company stock valued at $177,970. 17.42% of the stock is currently owned by company insiders.

Institutional Trading of Bowman Consulting Group

A number of institutional investors have recently added to or reduced their stakes in BWMN. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group in the 4th quarter valued at about $42,000. Brooklyn Investment Group acquired a new stake in shares of Bowman Consulting Group in the first quarter valued at approximately $45,000. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 4,288 shares in the last quarter. NBC Securities Inc. raised its position in shares of Bowman Consulting Group by 100,080.0% during the 1st quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock worth $109,000 after purchasing an additional 5,004 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Bowman Consulting Group by 55.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,524 shares of the company's stock valued at $163,000 after buying an additional 2,316 shares in the last quarter. Hedge funds and other institutional investors own 63.20% of the company's stock.

Bowman Consulting Group Trading Up 4.9%

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 business has a 50 day moving average of $27.35 and a 200-day moving average of $24.51. The stock has a market cap of $554.12 million, a PE ratio of 247.38, a price-to-earnings-growth ratio of 4.34 and a beta of 1.29.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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 announced that its board has approved a share repurchase program on Friday, June 6th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

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.

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