Bowman Consulting Group (NASDAQ:BWMN) Cut to Hold at Zacks Research

Zacks Research lowered shares of Bowman Consulting Group (NASDAQ:BWMN) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Bowman Consulting Group in a research note on Friday, January 9th. They set a “neutral” rating and a $40.00 target price on the stock. Roth Mkm boosted their price objective on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wall Street Zen downgraded Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bowman Consulting Group in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bowman Consulting Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.90.

Bowman Consulting Group Stock Up 5.3%

BWMN stock opened at $35.33 on Wednesday. The firm has a 50-day moving average price of $34.89 and a 200-day moving average price of $37.89. Bowman Consulting Group has a 12 month low of $17.90 and a 12 month high of $45.83. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $613.68 million, a P/E ratio of 37.99, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. The business had revenue of $112.09 million during the quarter, compared to analysts’ expectations of $130.45 million. Bowman Consulting Group had a net margin of 3.33% and a return on equity of 6.30%.

Insider Activity at Bowman Consulting Group

In other news, CEO Gary Bowman sold 7,500 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $35.37, for a total value of $265,275.00. Following the completion of the sale, the chief executive officer owned 1,368,338 shares of the company’s stock, valued at approximately $48,398,115.06. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 40,000 shares of company stock valued at $1,412,400. Insiders own 17.42% of the company’s stock.

Institutional Trading of Bowman Consulting Group

Several institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its holdings 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 purchasing an additional 510,527 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bowman Consulting Group during the third quarter worth $6,590,000. Tudor Investment Corp ET AL bought a new position in Bowman Consulting Group during the third quarter worth $3,958,000. JPMorgan Chase & Co. raised its stake in Bowman Consulting Group by 998.9% during the third quarter. JPMorgan Chase & Co. now owns 100,309 shares of the company’s stock worth $4,249,000 after buying an additional 91,181 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Bowman Consulting Group in the second quarter valued at $2,022,000. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Company Profile

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.