Bowman Consulting Group (NASDAQ:BWMN) Trading 11.5% Higher – Still a Buy?

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) were up 11.5% on Monday . The company traded as high as $29.21 and last traded at $30.1650. Approximately 55,616 shares traded hands during trading, a decline of 64% from the average daily volume of 153,768 shares. The stock had previously closed at $27.06.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Bowman Consulting Group from $43.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday, December 29th. Wall Street Zen lowered Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Roth Mkm increased their price objective on shares of Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, 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 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bowman Consulting Group has an average rating of “Moderate Buy” and an average price target of $45.50.

Bowman Consulting Group Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $516.73 million, a price-to-earnings ratio of 42.65, a PEG ratio of 1.65 and a beta of 1.34. The firm’s 50-day moving average price is $32.95 and its 200 day moving average price is $36.50.

Bowman Consulting Group (NASDAQ:BWMN) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. The business had revenue of $128.96 million for the quarter, compared to analyst estimates of $129.12 million. Bowman Consulting Group had a return on equity of 4.78% and a net margin of 2.48%.

Insider Activity at Bowman Consulting Group

In related news, CEO Gary Bowman sold 7,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $48,398,115.06. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.42% of the stock is currently owned by corporate insiders.

Institutional Trading of Bowman Consulting Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. increased its position in Bowman Consulting Group by 59.4% during the third quarter. Asset Management One Co. Ltd. now owns 96,875 shares of the company’s stock worth $4,104,000 after buying an additional 36,101 shares during the last quarter. Swedbank AB increased its position in Bowman Consulting Group by 8.0% during the 3rd 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 period. Ellsworth Advisors LLC bought a new stake in shares of Bowman Consulting Group in the third quarter valued at about $808,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bowman Consulting Group in the second quarter valued at about $231,000. Finally, Groupe la Francaise acquired a new stake in Bowman Consulting Group in the 2nd quarter worth about $412,000. Institutional investors and hedge funds 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.