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

Key Points

• Morgan Stanley raised Bowhead Specialty’s price target to $34 from $30 while maintaining an “equal weight” rating, implying about 1.57% upside from the prior close.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with two Buy ratings and seven Hold ratings, and a consensus price target of $33.50.
• Bowhead Specialty reported quarterly earnings of $0.48 per share, slightly exceeding the $0.47 estimate. Shares opened at $33.48, while the company posted a 10.11% net margin and 14.05% return on equity.

Bowhead Specialty (NYSE:BOW - Get Free Report) had its target price hoisted by Morgan Stanley from $30.00 to $34.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 1.57% from the company's previous close.

Several other research firms have also recently weighed in on BOW. Royal Bank Of Canada cut Bowhead Specialty from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $38.00 to $34.00 in a research report on Tuesday, August 4th. Piper Sandler lowered Bowhead Specialty from an "overweight" rating to a "hold" rating and set a $34.00 target price on the stock. in a research report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on Bowhead Specialty from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Weiss Ratings raised Bowhead Specialty from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Bowhead Specialty from a "buy" rating to a "hold" rating and set a $34.00 price target for the company. in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.50.

Bowhead Specialty Trading Up 0.1%

Shares of NYSE:BOW opened at $33.48 on Wednesday. Bowhead Specialty has a 12 month low of $21.21 and a 12 month high of $35.07. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The company's fifty day simple moving average is $30.76 and its 200 day simple moving average is $26.82. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.00 and a beta of -0.11.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.01. The firm had revenue of $163.86 million during the quarter, compared to analyst estimates of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. As a group, research analysts forecast that Bowhead Specialty will post 1.99 EPS for the current fiscal year.

Institutional Trading of Bowhead Specialty

Institutional investors and hedge funds have recently bought and sold shares of the business. Langdon Equity Partners bought a new position in shares of Bowhead Specialty during the 4th quarter worth approximately $28,000. Versant Capital Management Inc raised its stake in Bowhead Specialty by 262.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company's stock valued at $31,000 after acquiring an additional 751 shares during the period. Parallel Advisors LLC lifted its holdings in Bowhead Specialty by 181.4% during the 1st quarter. Parallel Advisors LLC now owns 1,652 shares of the company's stock valued at $37,000 after purchasing an additional 1,065 shares during the last quarter. CWM LLC lifted its holdings in Bowhead Specialty by 257.7% during the 4th quarter. CWM LLC now owns 1,481 shares of the company's stock valued at $42,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Bowhead Specialty during the second quarter worth $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.

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