Robert W. Baird Issues Pessimistic Forecast for Bowman Consulting Group (NASDAQ:BWMN) Stock Price

Key Points

• Robert W. Baird cut its price target on Bowman Consulting from $43 to $37 but kept an "outperform" rating, a level that the report says implies roughly a 27.6% upside from the stock's current price.
• Shares plunged about 12% to open near $29; Bowman posted Q results with EPS of $0.45 beating estimates but revenue of $128.96M slightly missing consensus and a low net margin of 2.48%.
• Insider activity is notable — CEO Gary Bowman sold 12,500 shares (and insiders have sold 40,000 shares in the last 90 days) while company insiders still own about 17.42% of the stock.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) had its price objective lowered by equities researchers at Robert W. Baird from $43.00 to $37.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective points to a potential upside of 27.59% from the company's current price.

Several other research analysts have also commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Bowman Consulting Group in a research report on Monday, December 29th. Roth Mkm raised their target price on Bowman Consulting Group from $45.00 to $50.00 and gave the company a "buy" rating in a report on Monday, December 8th. JPMorgan Chase & Co. initiated coverage on shares of Bowman Consulting Group in a research report on Friday, January 9th. They issued a "neutral" rating and a $40.00 price objective for the company. Wall Street Zen upgraded shares of Bowman Consulting Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 14th. Finally, Zacks Research lowered shares of Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

Bowman Consulting Group Trading Down 12.0%

NASDAQ BWMN opened at $29.00 on Friday. The firm has a market capitalization of $503.73 million, a price-to-earnings ratio of 40.85, a PEG ratio of 1.97 and a beta of 1.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 1.30. Bowman Consulting Group has a one year low of $17.90 and a one year high of $45.83. The company's 50 day moving average price is $34.30 and its 200 day moving average price is $37.55.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. Bowman Consulting Group had a net margin of 2.48% and a return on equity of 4.82%. The company had revenue of $128.96 million during the quarter, compared to the consensus estimate of $129.12 million.

Insider Activity

In other news, CEO Gary Bowman sold 12,500 shares of Bowman Consulting Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total value of $442,125.00. Following the completion of the transaction, the chief executive officer directly owned 879,943 shares of the company's stock, valued at approximately $31,123,583.91. The trade was a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $1,412,400. Company insiders own 17.42% of the company's stock.

Hedge Funds Weigh In On Bowman Consulting Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Bowman Consulting Group by 1.7% during the third quarter. Vanguard Group Inc. now owns 802,969 shares of the company's stock valued at $34,014,000 after purchasing an additional 13,366 shares during the last quarter. Alliancebernstein L.P. grew its stake in Bowman Consulting Group by 3,560.2% during the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company's stock worth $22,233,000 after buying an additional 510,527 shares during the last quarter. Swedbank AB increased its position in Bowman Consulting Group by 8.0% in the third quarter. Swedbank AB now owns 450,000 shares of the company's stock worth $19,062,000 after buying an additional 33,508 shares during the period. Summit Creek Advisors LLC lifted its stake in Bowman Consulting Group by 10.1% in the fourth quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company's stock valued at $13,178,000 after buying an additional 36,645 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Bowman Consulting Group by 2.7% in the second quarter. Geode Capital Management LLC now owns 343,015 shares of the company's stock valued at $9,864,000 after buying an additional 9,073 shares during the last quarter. Institutional investors own 63.20% of the company's stock.

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.

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