Bowman Consulting Group (NASDAQ:BWMN) Board of Directors Approves Share Buyback Plan

Bowman Consulting Group (NASDAQ:BWMN) declared that its board has initiated a stock buyback program on Friday, June 6th, RTT News reports. The company plans to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Bowman Consulting Group Stock Up 1.3%

BWMN stock opened at $27.00 on Monday. The company has a fifty day moving average price of $23.61 and a 200 day moving average price of $24.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $465.29 million, a price-to-earnings ratio of -34.18 and a beta of 1.26. Bowman Consulting Group has a 12 month low of $17.90 and a 12 month high of $36.65.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a negative net margin of 2.62% and a positive return on equity of 3.76%.

Analyst Ratings Changes

BWMN has been the topic of several research reports. B. Riley upgraded shares of Bowman Consulting Group to a “strong-buy” rating in a report on Tuesday, March 18th. Robert W. Baird upped their price objective on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Bank of America lowered their price target on Bowman Consulting Group from $36.50 to $30.50 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Wall Street Zen lowered Bowman Consulting Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.17.

Bowman Consulting Group Company Profile

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.