Bowman Consulting Group (NASDAQ:BWMN) Trading Up 4.9% on Analyst Upgrade

Bowman Consulting Group Ltd. (NASDAQ:BWMN) traded up 4.9% during trading on Wednesday after B. Riley raised their price target on the stock from $33.00 to $43.00. B. Riley currently has a buy rating on the stock. Bowman Consulting Group traded as high as $32.78 and last traded at $32.16. 298,852 shares traded hands during mid-day trading, an increase of 215% from the average session volume of 94,933 shares. The stock had previously closed at $30.67.

BWMN has been the subject of a number of other reports. Robert W. Baird increased their price objective on Bowman Consulting Group from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Wall Street Zen cut Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bowman Consulting Group presently has an average rating of “Moderate Buy” and an average target price of $36.38.

Insider Activity at Bowman Consulting Group

In other 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 transaction, the insider owned 176,685 shares in the company, valued at $4,717,489.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 6,724 shares of company stock worth $177,970. 17.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB raised its holdings in Bowman Consulting Group by 108.2% during the second quarter. Swedbank AB now owns 416,492 shares of the company’s stock worth $11,974,000 after purchasing an additional 216,492 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Bowman Consulting Group by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 50,176 shares of the company’s stock valued at $1,095,000 after buying an additional 2,203 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Bowman Consulting Group by 39.6% during the 1st quarter. Voya Investment Management LLC now owns 17,887 shares of the company’s stock worth $390,000 after buying an additional 5,077 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Bowman Consulting Group by 4.7% in the 1st quarter. Rhumbline Advisers now owns 18,829 shares of the company’s stock worth $411,000 after buying an additional 845 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Bowman Consulting Group in the 1st quarter worth about $287,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

Bowman Consulting Group Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $27.35 and its 200 day moving average is $24.51. The stock has a market capitalization of $554.12 million, a price-to-earnings ratio of 247.38, a PEG ratio of 4.34 and a beta of 1.29.

Bowman Consulting Group (NASDAQ:BWMN) last issued its quarterly earnings data 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 net margin of 0.54% and a return on equity of 2.74%.

Bowman Consulting Group announced that its board has initiated a stock repurchase program on Friday, June 6th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.