Street Calls of the Week
RESTON, Va. - Bowman Consulting Group Ltd. (NASDAQ:BWMN), a growing engineering services firm with a market capitalization of $711 million, has secured a contract to provide planning and design services for the redevelopment of the West End Container Yard at Barbours Cut Terminal in the Port of Houston, according to a press release issued Thursday. According to InvestingPro data, the company maintains impressive gross profit margins of 52.7%.
The 140-acre project is part of a larger $650 million capital improvement program aimed at reconfiguring the terminal for additional loaded container operations using rubber tire gantry cranes. Bowman’s work will include terminal planning, capacity upgrade schemes, and traffic flow evaluations. The company’s strong execution capability is reflected in its robust revenue growth of 19.48% over the last twelve months.
This marks Bowman’s first container terminal planning and design services award and builds on more than $5 million in recent assignments involving major U.S. ports and private oil and gas terminal operators.
"Our commitment to increase our ports and harbors revenue is delivering tangible results," said Gary Bowman, founder and CEO of Bowman.
The engineering services firm, headquartered in Reston, Virginia, employs 2,500 people across 100 locations throughout the United States. Bowman provides planning, engineering, geospatial, construction management, commissioning, environmental consulting, and other technical services to various regulated markets.
The company has been expanding its presence in the ports and harbors market, with previous work including intermodal freight planning, cruise terminal development, and marine infrastructure engineering.
In other recent news, Bowman Consulting Group Ltd. has secured a two-year contract with the Nebraska Department of Transportation to provide on-call bridge evaluation services across the state. This project involves inspecting up to 500 bridges, including safety inspections and load ratings, and offering recommendations for repairs or replacements. Additionally, Bowman has been awarded a contract by the Illinois Department of Transportation for preliminary engineering services on US 30 in Morrison, Illinois, marking their first collaboration with IDOT’s Region Two/District Two. Bowman has also entered into a $4.5 million master service agreement with the DuPage Water Commission for the WaterLink Pipeline Project in Illinois, which includes engineering for a six-mile section of new water transmission main.
In terms of analyst activity, B.Riley has raised its price target for Bowman Consulting from $43 to $55, maintaining a Buy rating due to the company’s strong national reputation and capability to handle larger projects. Texas Capital Securities has initiated coverage on Bowman with a Buy rating and a price target of $59, citing the firm’s benefit from infrastructure-related trends and anticipated earnings growth of approximately 20% annually. These developments reflect Bowman’s expanding role in national infrastructure projects and the positive outlook from financial analysts.
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