Bowman Consulting Group (NASDAQ:BWMN) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Bowman Consulting Group (NASDAQ:BWMN) from a neutral rating to an underweight rating in a report released on Friday, MarketBeat.com reports. They currently have $43.00 price objective on the stock, up from their previous price objective of $40.00.

BWMN has been the subject of several other reports. Roth Capital cut Bowman Consulting Group from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Wednesday, August 12th. Weiss Ratings upgraded Bowman Consulting Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Craig Hallum downgraded Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Tuesday, August 11th. Wall Street Zen raised shares of Bowman Consulting Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Texas Capital downgraded shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bowman Consulting Group presently has an average rating of “Reduce” and an average price target of $44.71.

Bowman Consulting Group Price Performance

Bowman Consulting Group stock opened at $42.61 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. Bowman Consulting Group has a 1-year low of $25.07 and a 1-year high of $45.83. The company has a fifty day simple moving average of $30.87 and a 200 day simple moving average of $31.30. The company has a market cap of $738.86 million, a P/E ratio of 106.52 and a beta of 1.36.

Bowman Consulting Group (NASDAQ:BWMN) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.47 by $0.15. The firm had revenue of $146.13 million for the quarter, compared to analysts’ expectations of $129.35 million. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. Research analysts anticipate that Bowman Consulting Group will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Patricia Mulroy sold 883 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the sale, the director directly owned 26,330 shares in the company, valued at $1,115,602.10. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bowman Consulting Group

Hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new position in shares of Bowman Consulting Group during the 4th quarter worth $42,000. Legal & General Group Plc acquired a new position in shares of Bowman Consulting Group in the second quarter valued at approximately $42,000. Tower Research Capital LLC TRC raised its stake in shares of Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock valued at $66,000 after acquiring an additional 1,633 shares during the last quarter. State of Alaska Department of Revenue raised its position in Bowman Consulting Group by 169.6% during the 4th 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 last quarter. Finally, Globeflex Capital L P bought a new position in shares of Bowman Consulting Group during the second quarter worth about $121,000. Institutional investors 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.