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

Bowman Consulting Group (NASDAQ:BWMN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Roth Mkm raised their target price on Bowman Consulting Group from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Wall Street Zen lowered Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. JPMorgan Chase & Co. assumed coverage on Bowman Consulting Group in a research note on Friday, January 9th. They set a “neutral” rating and a $40.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.90.

Bowman Consulting Group Trading Down 0.1%

Bowman Consulting Group stock opened at $33.54 on Wednesday. The firm has a market cap of $582.59 million, a PE ratio of 36.06, a P/E/G ratio of 2.03 and a beta of 1.33. Bowman Consulting Group has a 12 month low of $17.90 and a 12 month high of $45.83. The stock’s 50 day simple moving average is $34.90 and its two-hundred day simple moving average is $37.87. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group (NASDAQ:BWMN) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.23. The firm 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 related news, CEO Gary Bowman sold 7,500 shares of the stock in a transaction on 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 transaction, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 40,000 shares of company stock worth $1,412,400 in the last three months. 17.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bowman Consulting Group

A number of large investors have recently modified their holdings of BWMN. Asset Management One Co. Ltd. grew its position in shares of Bowman Consulting Group by 59.4% in the third quarter. Asset Management One Co. Ltd. now owns 96,875 shares of the company’s stock valued at $4,104,000 after purchasing an additional 36,101 shares in the last quarter. Swedbank AB boosted its stake in Bowman Consulting Group by 8.0% during the third quarter. Swedbank AB now owns 450,000 shares of the company’s stock worth $19,062,000 after buying an additional 33,508 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in Bowman Consulting Group during the third quarter worth $808,000. Dynamic Technology Lab Private Ltd purchased a new stake in Bowman Consulting Group in the 2nd quarter valued at $231,000. Finally, Groupe la Francaise acquired a new stake in shares of Bowman Consulting Group in the 2nd quarter worth $412,000. 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.