Bowhead Specialty (NYSE:BOW) Price Target Raised to $34.00

Bowhead Specialty (NYSE:BOW) had its price objective lifted by Morgan Stanley from $30.00 to $34.00 in a report released on Wednesday morning, MarketBeat reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently commented on BOW. Weiss Ratings upgraded shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Monday, August 3rd. Finally, Piper Sandler lowered shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.50.

Bowhead Specialty Stock Performance

Shares of BOW stock opened at $33.50 on Wednesday. Bowhead Specialty has a 12-month low of $21.21 and a 12-month high of $35.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.99 and a beta of -0.11. The business has a 50 day simple moving average of $31.14 and a 200 day simple moving average of $26.99.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $163.86 million for the quarter, compared to analysts’ expectations of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. On average, equities research analysts anticipate that Bowhead Specialty will post 2 EPS for the current year.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds have recently modified their holdings of BOW. Langdon Equity Partners purchased a new position in Bowhead Specialty in the 4th quarter worth about $28,000. Versant Capital Management Inc lifted its stake in Bowhead Specialty by 262.6% during the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock valued at $31,000 after buying an additional 751 shares in the last quarter. Parallel Advisors LLC lifted its stake in Bowhead Specialty by 181.4% during the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock valued at $37,000 after buying an additional 1,065 shares in the last quarter. CWM LLC increased its position in shares of Bowhead Specialty by 257.7% in the fourth quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Bowhead Specialty in the second quarter worth approximately $52,000.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.