Bowman Consulting Group (NASDAQ:BWMN) to Buyback $25.00 million in Outstanding Shares

Bowman Consulting Group (NASDAQ:BWMN) announced that its board has authorized a stock repurchase plan on Friday, June 6th, RTT News reports. The company plans to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

BWMN has been the subject of several research analyst reports. Bank of America lowered their price objective on shares of Bowman Consulting Group from $36.50 to $30.50 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird lifted their price objective on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, B. Riley upgraded shares of Bowman Consulting Group to a “strong-buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.17.

Bowman Consulting Group Trading Up 1.3%

Shares of BWMN opened at $27.00 on Friday. The business’s 50-day moving average price is $23.61 and its 200-day moving average price is $24.08. Bowman Consulting Group has a twelve month low of $17.90 and a twelve month high of $36.65. The stock has a market cap of $465.29 million, a PE ratio of -34.18 and a beta of 1.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.16.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a negative net margin of 2.62% and a positive return on equity of 3.76%.

Bowman Consulting Group Company Profile

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.