Bowman Consulting Group (NASDAQ:BWMN) Shares Gap Up After Better-Than-Expected Earnings

Bowman Consulting Group Ltd. (NASDAQ:BWMN) gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.23, but opened at $42.35. Bowman Consulting Group shares last traded at $42.33, with a volume of 498,750 shares traded.

The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.15. Bowman Consulting Group had a return on equity of 3.98% and a net margin of 2.02%.The business had revenue of $146.13 million for the quarter, compared to analyst estimates of $129.35 million.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Bowman Consulting Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. Wall Street Zen cut shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Bowman Consulting Group from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Roth Capital set a $58.00 price objective on shares of Bowman Consulting Group and gave the stock a “buy” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.50.

Insider Activity

In related news, Director Raymond Jr. Vicks sold 1,230 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total value of $41,008.20. Following the completion of the transaction, the director directly owned 18,143 shares of the company’s stock, valued at $604,887.62. This trade represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Bowman Consulting Group

Several institutional investors and hedge funds have recently bought and sold shares of BWMN. New York State Teachers Retirement System acquired a new stake in shares of Bowman Consulting Group during the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC raised its position in Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock worth $66,000 after purchasing an additional 1,633 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Bowman Consulting Group by 169.6% during the fourth quarter. State of Alaska Department of Revenue now owns 2,599 shares of the company’s stock worth $84,000 after purchasing an additional 1,635 shares during the period. NewEdge Advisors LLC lifted its stake in Bowman Consulting Group by 478,000.0% during the third quarter. NewEdge Advisors LLC now owns 4,781 shares of the company’s stock worth $203,000 after purchasing an additional 4,780 shares during the period. Finally, Zacks Investment Management acquired a new stake in Bowman Consulting Group during the third quarter valued at approximately $207,000. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Stock Up 55.3%

The company has a market capitalization of $740.41 million, a price-to-earnings ratio of 70.41, a P/E/G ratio of 3.43 and a beta of 1.36. The business has a fifty day simple moving average of $28.77 and a two-hundred day simple moving average of $30.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group Company Profile

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.