Bowman Consulting Group (NASDAQ:BWMN) Given New $30.50 Price Target at Bank of America

Bowman Consulting Group (NASDAQ:BWMN) had its target price cut by Bank of America from $36.50 to $30.50 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Bowman Consulting Group Stock Up 17.1 %

Shares of BWMN opened at $22.01 on Wednesday. The firm has a market capitalization of $385.84 million, a P/E ratio of -27.86 and a beta of 1.32. Bowman Consulting Group has a 12-month low of $17.90 and a 12-month high of $42.90. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $23.29 and a 200-day moving average price of $23.89.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Bowman Consulting Group had a positive return on equity of 3.76% and a negative net margin of 2.62%. The business had revenue of $113.22 million during the quarter, compared to analysts’ expectations of $110.00 million.

Insider Buying and Selling

In related news, insider Robert Alan Hickey sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.46, for a total value of $56,150.00. Following the completion of the sale, the insider now directly owns 188,177 shares of the company’s stock, valued at $4,226,455.42. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.40% of the stock is owned by insiders.

Institutional Trading of Bowman Consulting Group

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Bowman Consulting Group by 9.0% during the third quarter. Geode Capital Management LLC now owns 326,306 shares of the company’s stock valued at $7,859,000 after buying an additional 27,056 shares during the last quarter. Barclays PLC lifted its position in shares of Bowman Consulting Group by 210.4% during the third quarter. Barclays PLC now owns 21,341 shares of the company’s stock valued at $513,000 after buying an additional 14,466 shares during the last quarter. State Street Corp lifted its position in shares of Bowman Consulting Group by 5.8% during the third quarter. State Street Corp now owns 255,259 shares of the company’s stock valued at $6,147,000 after buying an additional 13,904 shares during the last quarter. FMR LLC lifted its position in shares of Bowman Consulting Group by 5.0% during the third quarter. FMR LLC now owns 2,730,755 shares of the company’s stock valued at $65,757,000 after buying an additional 128,981 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Bowman Consulting Group by 7.6% during the fourth quarter. Rhumbline Advisers now owns 17,984 shares of the company’s stock valued at $449,000 after buying an additional 1,277 shares during the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.

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.