Bowman Consulting Group Ltd. (NASDAQ:BWMN) Receives Average Recommendation of “Reduce” from Analysts

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) have received an average recommendation of “Reduce” from the eight research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.7143.

A number of brokerages have weighed in on BWMN. Texas Capital downgraded Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. B. Riley Financial downgraded Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Craig Hallum lowered Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Tuesday, August 11th. Capital One Financial set a $43.00 target price on Bowman Consulting Group in a report on Tuesday, August 11th. Finally, Roth Capital cut Bowman Consulting Group from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Wednesday, August 12th.

Insider Activity at Bowman Consulting Group

In other news, Director Patricia Mulroy sold 883 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the transaction, the director directly owned 26,330 shares of the company’s stock, valued at $1,115,602.10. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Bowman Consulting Group during the second quarter worth approximately $31,113,000. Alliancebernstein L.P. boosted its stake in Bowman Consulting Group by 3,560.2% in the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company’s stock valued at $22,233,000 after purchasing an additional 510,527 shares during the period. Polar Asset Management Partners Inc. acquired a new position in Bowman Consulting Group in the 2nd quarter valued at $7,210,000. Summit Creek Advisors LLC acquired a new position in Bowman Consulting Group in the 2nd quarter valued at $6,431,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Bowman Consulting Group during the 3rd quarter worth $6,590,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

Bowman Consulting Group Stock Performance

Shares of BWMN traded down $0.11 during midday trading on Monday, reaching $42.50. The stock had a trading volume of 59,663 shares, compared to its average volume of 188,140. The firm has a market cap of $736.98 million, a PE ratio of 106.25 and a beta of 1.36. The firm has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $31.30. Bowman Consulting Group has a one year low of $25.07 and a one year high of $45.83. 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 issued its earnings results on Monday, August 10th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $146.13 million for the quarter, compared to analysts’ expectations of $129.35 million. As a group, sell-side analysts anticipate that Bowman Consulting Group will post 0.8 EPS for the current year.

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.