Bowman Consulting Group (NASDAQ:BWMN) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Bowman Consulting Group (NASDAQ:BWMN) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $40.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 14.88% from the stock’s current price.

A number of other brokerages have also commented on BWMN. Roth Capital raised their price objective on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wall Street Zen downgraded Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Weiss Ratings restated a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday, December 29th. Finally, Zacks Research raised shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Bowman Consulting Group has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Bowman Consulting Group Trading Up 0.1%

Bowman Consulting Group stock opened at $34.82 on Friday. Bowman Consulting Group has a 52 week low of $17.90 and a 52 week high of $45.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $604.82 million, a price-to-earnings ratio of 37.44, a P/E/G ratio of 2.25 and a beta of 1.33. The company has a 50 day moving average price of $35.05 and a 200 day moving average price of $37.23.

Bowman Consulting Group (NASDAQ:BWMN) last announced its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.23. Bowman Consulting Group had a net margin of 3.33% and a return on equity of 6.30%. The company had revenue of $112.09 million for the quarter, compared to the consensus estimate of $130.45 million.

Insider Buying and Selling

In related news, CEO Gary Bowman sold 12,500 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $35.25, for a total value of $440,625.00. Following the transaction, the chief executive officer owned 892,443 shares in the company, valued at approximately $31,458,615.75. This represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bruce J. Labovitz sold 10,000 shares of Bowman Consulting Group stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $42.37, for a total transaction of $423,700.00. Following the completion of the sale, the chief financial officer owned 385,560 shares of the company’s stock, valued at $16,336,177.20. This trade represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 50,000 shares of company stock worth $1,974,100 in the last 90 days. 17.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bowman Consulting Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWMN. State of Alaska Department of Revenue acquired a new stake in shares of Bowman Consulting Group in the third quarter worth $40,000. Ameritas Investment Partners Inc. raised its holdings in Bowman Consulting Group by 28.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock worth $41,000 after acquiring an additional 317 shares during the period. Tower Research Capital LLC TRC lifted its position in Bowman Consulting Group by 244.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock worth $66,000 after acquiring an additional 1,633 shares during the last quarter. AlphaQuest LLC acquired a new position in Bowman Consulting Group during the 2nd quarter worth $103,000. Finally, Quantbot Technologies LP bought a new stake in Bowman Consulting Group during the third quarter valued at about $175,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

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.