Bank of America Initiates Coverage on Bowman Consulting Group (NASDAQ:BWMN)

Equities research analysts at Bank of America began coverage on shares of Bowman Consulting Group (NASDAQ:BWMN) in a research report issued on Friday, Briefing.com reports. The firm set a “buy” rating and a $36.50 price target on the stock. Bank of America‘s target price would suggest a potential upside of 15.32% from the stock’s current price.

BWMN has been the topic of a number of other reports. Roth Mkm dropped their price objective on Bowman Consulting Group from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. TheStreet raised Bowman Consulting Group from a “c” rating to a “b-” rating in a research note on Wednesday, February 14th. DA Davidson increased their price objective on Bowman Consulting Group from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, B. Riley reissued a “buy” rating and issued a $47.00 price objective (up from $44.00) on shares of Bowman Consulting Group in a research note on Wednesday, March 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.88.

Bowman Consulting Group Trading Down 1.7 %

NASDAQ BWMN opened at $31.65 on Friday. The business’s 50-day moving average price is $33.38 and its two-hundred day moving average price is $32.96. Bowman Consulting Group has a 12 month low of $25.52 and a 12 month high of $42.90. The firm has a market capitalization of $559.26 million, a PE ratio of -47.24 and a beta of 1.21. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.16.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings results on Monday, March 11th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.38. Bowman Consulting Group had a positive return on equity of 5.63% and a negative net margin of 2.43%. The firm had revenue of $92.97 million for the quarter, compared to analyst estimates of $88.68 million. On average, analysts expect that Bowman Consulting Group will post 0.09 EPS for the current year.

Insider Activity

In other Bowman Consulting Group news, CFO Bruce J. Labovitz sold 10,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $41.83, for a total transaction of $418,300.00. Following the completion of the transaction, the chief financial officer now directly owns 293,288 shares of the company’s stock, valued at $12,268,237.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Bruce J. Labovitz sold 10,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $41.83, for a total value of $418,300.00. Following the sale, the chief financial officer now owns 293,288 shares in the company, valued at $12,268,237.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce J. Labovitz sold 2,500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $37.43, for a total value of $93,575.00. Following the completion of the sale, the chief financial officer now owns 303,288 shares in the company, valued at approximately $11,352,069.84. The disclosure for this sale can be found here. Insiders sold a total of 183,199 shares of company stock valued at $6,320,347 over the last three months. Corporate insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On Bowman Consulting Group

A number of large investors have recently added to or reduced their stakes in BWMN. FMR LLC grew its stake in shares of Bowman Consulting Group by 33.7% during the third quarter. FMR LLC now owns 1,761,350 shares of the company’s stock valued at $49,371,000 after buying an additional 444,299 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Bowman Consulting Group by 28.0% during the first quarter. Vanguard Group Inc. now owns 662,733 shares of the company’s stock valued at $23,056,000 after buying an additional 144,978 shares during the last quarter. Summit Creek Advisors LLC grew its stake in shares of Bowman Consulting Group by 19.0% during the first quarter. Summit Creek Advisors LLC now owns 300,253 shares of the company’s stock valued at $10,446,000 after buying an additional 47,844 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of Bowman Consulting Group by 28.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 188,724 shares of the company’s stock valued at $6,566,000 after buying an additional 41,669 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Bowman Consulting Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 66,348 shares of the company’s stock valued at $2,308,000 after buying an additional 16,761 shares during the last quarter. Hedge funds and other institutional investors own 63.20% of the company’s stock.

About Bowman Consulting Group

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.