Keefe, Bruyette & Woods Lowers Bowhead Specialty (NYSE:BOW) Price Target to $31.00

Key Points

• Keefe, Bruyette & Woods lowered its price target on Bowhead Specialty from $36 to $31 while keeping an "outperform" rating, a target that implies roughly a 35% upside from the current share price.
• Analyst coverage is mixed but mildly positive with five Buy and four Hold ratings, producing a consensus rating of "Moderate Buy" and a consensus target of about $31.83.
• Bowhead recently beat quarterly EPS and revenue (EPS $0.47 vs. $0.45 est., revenue $151.68M vs. $145.99M), and trades around $22.89 with a market cap of ~$751.5M and a PE of 14.37.

Bowhead Specialty (NYSE:BOW - Get Free Report) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $36.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 35.46% from the stock's current price.

BOW has been the subject of several other research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bowhead Specialty in a research note on Friday, March 27th. Zacks Research raised shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Piper Sandler lifted their price target on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, December 22nd. Royal Bank Of Canada lowered their price target on shares of Bowhead Specialty from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Finally, Morgan Stanley dropped their price objective on shares of Bowhead Specialty from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Monday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.83.

Bowhead Specialty Stock Up 1.3%

Shares of Bowhead Specialty stock traded up $0.29 during trading hours on Tuesday, reaching $22.89. 37,965 shares of the company were exchanged, compared to its average volume of 214,699. The firm has a market cap of $751.54 million, a PE ratio of 14.37, a PEG ratio of 0.68 and a beta of -0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.52. Bowhead Specialty has a 1 year low of $21.21 and a 1 year high of $41.98. The stock's fifty day moving average is $23.75 and its 200 day moving average is $25.49.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%.The firm had revenue of $151.68 million during the quarter, compared to analyst estimates of $145.99 million. As a group, equities research analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Martingale Asset Management L P boosted its holdings in Bowhead Specialty by 1.9% in the fourth quarter. Martingale Asset Management L P now owns 25,791 shares of the company's stock valued at $736,000 after purchasing an additional 484 shares in the last quarter. Invesco Ltd. lifted its position in shares of Bowhead Specialty by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company's stock worth $413,000 after buying an additional 490 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Bowhead Specialty by 45.5% in the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company's stock valued at $59,000 after buying an additional 646 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Bowhead Specialty by 6.6% in the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company's stock valued at $310,000 after buying an additional 673 shares in the last quarter. Finally, Langdon Equity Partners purchased a new position in shares of Bowhead Specialty in the 4th quarter valued at $28,000.

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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