Bowman Consulting Group sees analyst downgrades and insider stock sales

Bowman Consulting Group (NASDAQ: BWMN) has seen recent shifts in analyst ratings and insider activity. Texas Capital downgraded the company from a ‘strong-buy’ to a ‘hold’ rating, following a similar move by B. Riley Financial, which shifted its rating from ‘buy’ to ‘neutral’. Other analysts have provided varying outlooks, including a ‘buy’ rating from Roth Capital and a price objective of $40.00 from JPMorgan Chase & Co.

In terms of insider activity, Chief Operating Officer Daniel Swayze sold 914 shares of the company on August 7th at an average price of $27.24. This transaction, executed under a pre-arranged Rule 10b5-1 trading plan, represented a 3.35% decrease in his direct ownership.

Despite these rating changes, the company recently reported second-quarter adjusted earnings per share of $0.62, surpassing the consensus estimate of $0.47. Revenue for the quarter reached $146.1 million, exceeding the $129.35 million forecast. The company also reported a 50.3% expansion in its backlog, totaling $658.7 million.