Bank of America Cuts Bowman Consulting Group (NASDAQ:BWMN) Price Target to $30.50

Bowman Consulting Group (NASDAQ:BWMN) had its price objective cut by investment analysts at Bank of America from $36.50 to $30.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 62.23% from the company’s previous close.

Bowman Consulting Group Stock Performance

NASDAQ:BWMN opened at $18.80 on Wednesday. The firm has a market capitalization of $329.56 million, a PE ratio of -23.80 and a beta of 1.32. The stock’s fifty day moving average is $23.35 and its 200 day moving average is $23.90. Bowman Consulting Group has a fifty-two week low of $17.50 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.43.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Tuesday, March 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Insider Activity

In other 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 transaction, the insider now directly owns 188,177 shares in the company, valued at approximately $4,226,455.42. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On Bowman Consulting Group

Several large investors have recently added to or reduced their stakes in BWMN. Charles Schwab Investment Management Inc. raised its stake in shares of Bowman Consulting Group by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 38,708 shares of the company’s stock valued at $932,000 after acquiring an additional 913 shares in the last quarter. FMR LLC raised its position in Bowman Consulting Group by 5.0% during the 3rd quarter. FMR LLC now owns 2,730,755 shares of the company’s stock valued at $65,757,000 after purchasing an additional 128,981 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Bowman Consulting Group by 115.6% in the 3rd quarter. Quantbot Technologies LP now owns 3,893 shares of the company’s stock worth $94,000 after buying an additional 2,087 shares during the period. Janus Henderson Group PLC grew its position in shares of Bowman Consulting Group by 10.8% during the 3rd quarter. Janus Henderson Group PLC now owns 24,306 shares of the company’s stock worth $585,000 after buying an additional 2,370 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Bowman Consulting Group by 16.3% during the third quarter. Polar Asset Management Partners Inc. now owns 482,847 shares of the company’s stock valued at $11,627,000 after buying an additional 67,708 shares during the period. 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.