Brokerages Set Bowhead Specialty Holdings Inc. (NYSE:BOW) Target Price at $33.50

Bowhead Specialty Holdings Inc. (NYSE:BOW) has received an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

BOW has been the topic of several recent research reports. 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 research report on Monday, August 3rd. Royal Bank Of Canada downgraded shares of Bowhead Specialty from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $38.00 to $34.00 in a research note on Tuesday. Citizens Jmp cut their price target on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley increased their price objective on Bowhead Specialty from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 6th.

Bowhead Specialty Price Performance

Shares of BOW opened at $33.45 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.10 billion, a PE ratio of 18.08, a PEG ratio of 1.01 and a beta of -0.11. Bowhead Specialty has a 12-month low of $21.21 and a 12-month high of $35.07. The business has a 50-day simple moving average of $29.63 and a two-hundred day simple moving average of $26.38.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%.The company had revenue of $163.86 million for the quarter, compared to analysts’ expectations of $278.69 million. Analysts anticipate that Bowhead Specialty will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

Institutional investors and hedge funds have recently made changes to their positions in the stock. Martingale Asset Management L P raised its position in shares of Bowhead Specialty by 1.9% during the fourth quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after acquiring an additional 484 shares during the last quarter. Invesco Ltd. boosted its holdings in Bowhead Specialty by 3.5% in the fourth quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after acquiring an additional 490 shares during the last quarter. Royal Bank of Canada boosted its holdings in Bowhead Specialty by 45.5% in the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock valued at $59,000 after acquiring an additional 646 shares during the last quarter. Jump Financial LLC increased its position in Bowhead Specialty by 6.6% during the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock valued at $310,000 after purchasing an additional 673 shares during the period. Finally, Versant Capital Management Inc increased its position in Bowhead Specialty by 262.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock valued at $31,000 after purchasing an additional 751 shares during the period.

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.