Bowman Consulting Group (NASDAQ:BWMN) Shares Gap Up After Strong Earnings

Bowman Consulting Group Ltd. (NASDAQ:BWMN)’s share price 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 earnings per share for the quarter, beating 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 firm had revenue of $146.13 million for the quarter, compared to analysts’ expectations of $129.35 million.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Bowman Consulting Group news, Director Raymond Jr. Vicks sold 1,230 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $33.34, for a total transaction of $41,008.20. Following the sale, the director owned 18,143 shares of the company’s stock, valued at $604,887.62. This represents a 6.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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

A number of large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in Bowman Consulting Group by 3.8% in the third quarter. Franklin Resources Inc. now owns 10,289 shares of the company’s stock valued at $436,000 after buying an additional 377 shares during the period. Deutsche Bank AG increased its stake in shares of Bowman Consulting Group by 4.9% in the 4th quarter. Deutsche Bank AG now owns 9,473 shares of the company’s stock valued at $313,000 after acquiring an additional 444 shares during the last quarter. Creative Planning raised its position in shares of Bowman Consulting Group by 5.0% in the 3rd quarter. Creative Planning now owns 13,818 shares of the company’s stock valued at $585,000 after acquiring an additional 661 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Bowman Consulting Group by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,880 shares of the company’s stock worth $558,000 after acquiring an additional 865 shares during the last quarter. Finally, ARS Investment Partners LLC grew its holdings in Bowman Consulting Group by 16.9% during the fourth quarter. ARS Investment Partners LLC now owns 6,179 shares of the company’s stock valued at $204,000 after purchasing an additional 892 shares during the period. 63.20% of the stock is currently owned by institutional investors and hedge funds.

Bowman Consulting Group Price Performance

The company’s 50 day simple moving average is $28.77 and its 200 day simple moving average is $30.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $740.41 million, a P/E ratio of 70.41, a P/E/G ratio of 3.43 and a beta of 1.36.

About Bowman Consulting Group

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.