Bowman Consulting Group (NASDAQ:BWMN) Raised to “Buy” at Wall Street Zen

Bowman Consulting Group (NASDAQ:BWMN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research analysts have also issued reports on the stock. Robert W. Baird boosted 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 note on Thursday, May 8th. B. Riley lifted their price objective on Bowman Consulting Group from $33.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $36.38.

Bowman Consulting Group Stock Performance

NASDAQ BWMN opened at $31.48 on Friday. The business’s 50-day moving average price is $27.64 and its 200 day moving average price is $24.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.15. The firm has a market cap of $542.40 million, a P/E ratio of 242.15, a P/E/G ratio of 4.60 and a beta of 1.29. Bowman Consulting Group has a 52-week low of $17.90 and a 52-week high of $36.65.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 of Directors has approved a stock buyback plan on Friday, June 6th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Bowman Consulting Group

In other Bowman Consulting Group news, insider Robert Alan Hickey sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $26.70, for a total transaction of $133,500.00. Following the transaction, the insider directly owned 176,685 shares in the company, valued at approximately $4,717,489.50. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 6,724 shares of company stock valued at $177,970 in the last ninety days. 17.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Bowman Consulting Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 800,748 shares of the company’s stock worth $19,979,000 after purchasing an additional 13,198 shares during the last quarter. Pembroke Management LTD raised its stake in shares of Bowman Consulting Group by 12.8% during the 1st quarter. Pembroke Management LTD now owns 520,519 shares of the company’s stock worth $11,363,000 after buying an additional 59,197 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Bowman Consulting Group by 3.6% during the 1st quarter. Polar Asset Management Partners Inc. now owns 451,029 shares of the company’s stock worth $9,846,000 after buying an additional 15,481 shares during the last quarter. Swedbank AB boosted its position in shares of Bowman Consulting Group by 108.2% in the 2nd quarter. Swedbank AB now owns 416,492 shares of the company’s stock worth $11,974,000 after buying an additional 216,492 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its stake in Bowman Consulting Group by 9.3% in the 1st quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company’s stock valued at $8,908,000 after acquiring an additional 34,599 shares during the last quarter. Hedge funds and other institutional investors 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.