Bowman Consulting Group Ltd. (NASDAQ:BWMN) Stock Now Rated "Reduce" by Sell-Side Analysts

Key Points

• Bowman Consulting Group received a consensus “Reduce” rating from eight analysts, including one sell and seven hold ratings. The average 12-month price target is $43, slightly above the stock’s reported price of $42.77.
• The company’s latest quarterly results exceeded expectations, with earnings per share of $0.62 versus the $0.47 consensus estimate and revenue of $146.12 million versus $129.35 million expected.
• Insiders sold 61,797 shares worth approximately $2.6 million over the last quarter, while institutional investors and hedge funds own 63.2% of the company.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) has been given a consensus rating of "Reduce" by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.00.

Several research analysts have recently commented on the stock. Texas Capital cut shares of Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. B. Riley Financial cut Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. downgraded Bowman Consulting Group from a "neutral" rating to an "underweight" rating and increased their price target for the stock from $40.00 to $43.00 in a research report on Friday, August 21st. Wolfe Research set a $43.00 price target on Bowman Consulting Group in a research report on Tuesday, August 11th. Finally, Robert W. Baird set a $43.00 price objective on Bowman Consulting Group in a research note on Monday, August 10th.

Bowman Consulting Group Stock Performance

Shares of BWMN stock traded down $0.03 on Tuesday, hitting $42.77. The company's stock had a trading volume of 25,497 shares, compared to its average volume of 214,746. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The stock's 50 day moving average is $41.31 and its 200-day moving average is $34.08. Bowman Consulting Group has a fifty-two week low of $25.07 and a fifty-two week high of $45.83. The company has a market capitalization of $709.72 million, a PE ratio of 106.94 and a beta of 1.48.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.15. The business had revenue of $146.12 million during the quarter, compared to analysts' expectations of $129.35 million. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. Equities research analysts expect that Bowman Consulting Group will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gary Bowman sold 22,500 shares of the business's stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total value of $957,375.00. Following the completion of the transaction, the chief executive officer owned 1,272,838 shares of the company's stock, valued at $54,159,256.90. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $42.37, for a total transaction of $37,412.71. Following the sale, the director directly owned 26,330 shares of the company's stock, valued at $1,115,602.10. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,797 shares of company stock valued at $2,615,310. Corporate insiders own 17.50% of the company's stock.

Hedge Funds Weigh In On Bowman Consulting Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Bowman Consulting Group by 77.5% during the 1st quarter. Renaissance Technologies LLC now owns 99,379 shares of the company's stock worth $2,826,000 after acquiring an additional 43,379 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Bowman Consulting Group during the second quarter worth about $31,113,000. Bank of New York Mellon Corp bought a new stake in shares of Bowman Consulting Group during the second quarter worth about $1,187,000. Polar Asset Management Partners Inc. bought a new stake in shares of Bowman Consulting Group during the second quarter worth about $7,210,000. Finally, Summit Creek Advisors LLC acquired a new position in shares of Bowman Consulting Group in the second quarter valued at approximately $6,431,000. 63.20% of the stock is currently owned by institutional investors and hedge funds.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. is a professional services firm that provides engineering, planning, surveying and technical consulting services for infrastructure and development projects. The company serves public- and private-sector clients across areas such as transportation, power and utilities, water, real estate, renewable energy, mining and federal programs.

Its services include civil engineering, transportation engineering, environmental consulting, geomatics and surveying, land planning, construction management, landscape architecture and other related project and program management support.

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