Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts collectively rate Bowhead Specialty “Hold”: Nine of 10 analysts maintain hold ratings, while one recommends buying. The average 12-month price target is $33.50, slightly below the stock’s reported $33.88 price.
• Recent analyst actions were mixed but generally cautious, including downgrades from Royal Bank of Canada and Piper Sandler, while JPMorgan and Morgan Stanley raised their price targets to $33 and $34, respectively.
• Bowhead reported quarterly earnings of $0.48 per share, narrowly exceeding the $0.47 consensus estimate. The stock has traded between $21.21 and $35.07 over the past year, and institutional investors have increased or initiated positions.

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) have received an average rating of "Hold" from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.50.

A number of research analysts have recently commented on BOW shares. Royal Bank Of Canada downgraded Bowhead Specialty from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $38.00 to $34.00 in a report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Piper Sandler downgraded Bowhead Specialty from an "overweight" rating to a "hold" rating and set a $34.00 price target for the company. in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Bowhead Specialty from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Finally, Morgan Stanley raised their price objective on shares of Bowhead Specialty from $30.00 to $34.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th.

Bowhead Specialty Trading Up 0.3%

BOW opened at $33.88 on Wednesday. The stock has a market capitalization of $1.12 billion, a PE ratio of 18.31, a P/E/G ratio of 1.00 and a beta of -0.08. Bowhead Specialty has a one year low of $21.21 and a one year high of $35.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The business's 50 day moving average price is $32.84 and its 200 day moving average price is $28.37.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $278.69 million. Bowhead Specialty had a net margin of 10.11% and a return on equity of 14.05%. As a group, equities research analysts expect that Bowhead Specialty will post 2 EPS for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors have recently modified their holdings of the business. American Family Investments Inc. purchased a new position in shares of Bowhead Specialty during the 2nd quarter worth approximately $140,693,777. Wasatch Advisors LP grew its holdings in Bowhead Specialty by 28.9% during the second quarter. Wasatch Advisors LP now owns 348,437 shares of the company's stock worth $10,429,000 after acquiring an additional 78,209 shares during the period. Dimensional Fund Advisors LP grew its holdings in Bowhead Specialty by 61.3% during the first quarter. Dimensional Fund Advisors LP now owns 256,645 shares of the company's stock worth $5,756,000 after acquiring an additional 97,494 shares during the period. First Trust Advisors LP raised its position in Bowhead Specialty by 374.0% in the first quarter. First Trust Advisors LP now owns 172,305 shares of the company's stock worth $3,865,000 after acquiring an additional 135,954 shares in the last quarter. Finally, Steelhead Wealth Management LLC purchased a new position in Bowhead Specialty in the first quarter worth $2,143,000.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc is a specialty insurance company that provides coverage in the excess and surplus (E&S) and specialty admitted insurance markets. Through its insurance operations, the company focuses on risks that may require specialized underwriting expertise or customized policy terms beyond those typically available through standard commercial insurance.

Its offerings include commercial casualty, professional liability, healthcare liability and other specialty commercial insurance products.

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