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

Key Points

• Wall Street Zen upgraded Bowman Consulting Group to “Buy” from “Hold,” though the broader analyst consensus remains “Hold” with an average price target of $44.29.
• Bowman shares opened at $42.30, near their 12-month high of $45.83. The company’s latest quarterly results exceeded expectations, with EPS of $0.62 versus the $0.47 estimate and revenue of $146.13 million versus $129.35 million expected.
• Institutional investors own 63.20% of the stock, while insiders own 17.50%; director Patricia Mulroy recently sold 883 shares under a pre-arranged trading plan.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the stock. Roth Capital downgraded shares of Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research note on Wednesday. Wolfe Research set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday. B. Riley Financial downgraded Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Monday. Robert W. Baird set a $43.00 price target on shares of Bowman Consulting Group in a report on Monday. Finally, Texas Capital cut Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Bowman Consulting Group presently has a consensus rating of "Hold" and an average target price of $44.29.

Bowman Consulting Group Stock Up 0.2%

Shares of NASDAQ:BWMN opened at $42.30 on Friday. The business has a 50-day moving average price of $29.77 and a 200 day moving average price of $31.04. Bowman Consulting Group has a 12-month low of $25.07 and a 12-month high of $45.83. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $733.48 million, a price-to-earnings ratio of 105.75, a PEG ratio of 5.31 and a beta of 1.36.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $146.13 million for the quarter, compared to analyst estimates of $129.35 million. Sell-side analysts expect that Bowman Consulting Group will post 0.82 EPS for the current year.

Insider Transactions at Bowman Consulting Group

In related news, Director Patricia Mulroy sold 883 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total transaction of $37,412.71. Following the completion of the sale, the director directly owned 26,330 shares of the company's stock, valued at approximately $1,115,602.10. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Several hedge funds and other institutional investors have recently bought and sold shares of BWMN. New York State Teachers Retirement System bought a new stake in shares of Bowman Consulting Group in the 4th quarter valued at approximately $42,000. Legal & General Group Plc acquired a new position in shares of Bowman Consulting Group during the second quarter valued at $42,000. Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 1,633 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Bowman Consulting Group by 169.6% in the fourth quarter. State of Alaska Department of Revenue now owns 2,599 shares of the company's stock worth $84,000 after purchasing an additional 1,635 shares during the period. Finally, Globeflex Capital L P acquired a new stake in shares of Bowman Consulting Group in the second quarter valued at $121,000. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

About Bowman Consulting Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source