Bowman Consulting Group (NASDAQ:BWMN) Rating Lowered to “Underweight” at JPMorgan Chase & Co.

Bowman Consulting Group (NASDAQ:BWMN) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Friday, MarketBeat reports. They presently have a $43.00 target price on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.06% from the stock’s current price.

Several other brokerages also recently commented on BWMN. B. Riley Financial downgraded shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Texas Capital cut shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Wolfe Research set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. Wall Street Zen upgraded Bowman Consulting Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Roth Capital lowered Bowman Consulting Group from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $44.71.

Bowman Consulting Group Stock Performance

Shares of Bowman Consulting Group stock opened at $42.55 on Friday. The stock has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $31.24. Bowman Consulting Group has a 12-month low of $25.07 and a 12-month high of $45.83. The company has a market capitalization of $737.82 million, a P/E ratio of 106.37 and a beta of 1.36. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings results on Monday, August 10th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. The business had revenue of $146.13 million during the quarter, compared to analyst estimates of $129.35 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. On average, sell-side analysts anticipate that Bowman Consulting Group will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Patricia Mulroy sold 883 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $42.37, for a total transaction of $37,412.71. Following the transaction, the director owned 26,330 shares of the company’s stock, valued at $1,115,602.10. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Several large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in Bowman Consulting Group in the 4th quarter valued at about $42,000. Legal & General Group Plc bought a new position in Bowman Consulting Group during the second quarter worth about $42,000. Tower Research Capital LLC TRC boosted its position in Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock worth $66,000 after purchasing an additional 1,633 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Bowman Consulting Group by 169.6% in the fourth quarter. State of Alaska Department of Revenue now owns 2,599 shares of the company’s stock worth $84,000 after purchasing an additional 1,635 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Bowman Consulting Group in the second quarter worth about $121,000. Hedge funds and other 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.