Bowman Consulting Group (NASDAQ:BWMN) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bowman Consulting Group from “hold” to “buy”, adding to a mixed but generally cautious analyst picture. The stock still has an overall Hold consensus rating and an average price target of $47.50.
• Bowman shares were down 1.4% and opened at $31.07, well below the 12-month high of $45.83. The company has a market cap of about $544 million and trades at a relatively high P/E of 51.78.
• The company recently posted mixed quarterly results: revenue of $126.48 million beat expectations, but EPS of $0.14 missed estimates of $0.21. Insider selling also continued, including trades by the CEO and a director under pre-arranged trading plans.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the company. Robert W. Baird decreased their price target on Bowman Consulting Group from $43.00 to $37.00 and set an "outperform" rating for the company in a report on Friday, March 6th. Weiss Ratings raised Bowman Consulting Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, June 4th. Roth Mkm set a $58.00 price objective on Bowman Consulting Group and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Bowman Consulting Group from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $47.50.

Bowman Consulting Group Trading Down 1.4%

Shares of NASDAQ:BWMN opened at $31.07 on Friday. Bowman Consulting Group has a 12-month low of $25.96 and a 12-month high of $45.83. The company has a market capitalization of $544.04 million, a PE ratio of 51.78, a PEG ratio of 4.18 and a beta of 1.33. The business has a 50 day moving average of $31.80 and a two-hundred day moving average of $32.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.07). Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.98%. The company had revenue of $126.48 million during the quarter, compared to analyst estimates of $114.49 million. As a group, analysts forecast that Bowman Consulting Group will post 0.77 EPS for the current year.

Insider Activity at Bowman Consulting Group

In related news, Director Raymond Jr. Vicks sold 1,230 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total transaction of $41,008.20. Following the completion of the sale, the director directly owned 18,143 shares in the company, valued at approximately $604,887.62. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total value of $230,325.00. Following the sale, the chief executive officer owned 1,353,338 shares of the company's stock, valued at $41,561,009.98. The trade was a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,230 shares of company stock valued at $655,208 over the last quarter. 17.50% of the stock is owned by company insiders.

Institutional Trading of Bowman Consulting Group

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of Bowman Consulting Group during the fourth quarter worth approximately $42,000. Tower Research Capital LLC TRC grew its holdings in Bowman Consulting Group by 244.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock valued at $66,000 after buying an additional 1,633 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Bowman Consulting Group by 169.6% in the 4th quarter. State of Alaska Department of Revenue now owns 2,599 shares of the company's stock valued at $84,000 after buying an additional 1,635 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Bowman Consulting Group in the 3rd quarter valued at $175,000. Finally, Fifth Third Bancorp purchased a new stake in Bowman Consulting Group in the 1st quarter valued at $196,000. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. NASDAQ: BWMN is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.

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