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

Key Points

• Bowman Consulting Group has been upgraded from a "hold" to a "strong-buy" rating by Wall Street Zen, indicating increasing confidence in the company's stock performance.
• Analysts have raised their price targets for Bowman Consulting Group, with B. Riley setting it at $43.00, reflecting a positive outlook for the company.
• The company's board approved a $25 million share buyback plan, suggesting management believes its shares are currently undervalued.

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

Several other research analysts also recently weighed in on BWMN. B. Riley upped 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 report on Wednesday, July 16th. Robert W. Baird upped their price target on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th.

Bowman Consulting Group Trading Up 3.3%

BWMN stock opened at $36.90 on Friday. The company's 50-day simple moving average is $30.36 and its 200-day simple moving average is $25.58. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.15. Bowman Consulting Group has a 52-week low of $17.90 and a 52-week high of $37.34. The firm has a market cap of $635.79 million, a P/E ratio of 61.50, a PEG ratio of 5.05 and a beta of 1.31.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a return on equity of 5.65% and a net margin of 2.20%.

Bowman Consulting Group announced that its board has approved a share buyback plan on Friday, June 6th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

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

Institutional Trading of Bowman Consulting Group

A number of hedge funds have recently bought and sold shares of the business. Comerica Bank raised its holdings in Bowman Consulting Group by 7.0% in the 1st quarter. Comerica Bank now owns 11,532 shares of the company's stock valued at $252,000 after acquiring an additional 751 shares during the last quarter. Boston Partners raised its holdings in Bowman Consulting Group by 3.5% in the 2nd quarter. Boston Partners now owns 23,738 shares of the company's stock valued at $682,000 after acquiring an additional 813 shares during the last quarter. Rhumbline Advisers raised its holdings in Bowman Consulting Group by 4.7% in the 1st quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock valued at $411,000 after acquiring an additional 845 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group in the 4th quarter valued at about $42,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Bowman Consulting Group during the 1st quarter worth approximately $45,000. 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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