Morgan Stanley Has Lowered Expectations for Bowhead Specialty (NYSE:BOW) Stock Price

Bowhead Specialty (NYSE:BOW) had its target price cut by research analysts at Morgan Stanley from $31.00 to $29.00 in a research note issued to investors on Monday, MarketBeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.64% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bowhead Specialty from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. JMP Securities dropped their target price on shares of Bowhead Specialty from $43.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods lowered their price objective on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Zacks Research raised Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Bowhead Specialty in a research report on Friday, August 8th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus price target of $35.40.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock traded up $0.05 during midday trading on Monday, reaching $27.71. 38,309 shares of the company’s stock traded hands, compared to its average volume of 259,821. The company has a market cap of $908.46 million, a PE ratio of 17.74 and a beta of -0.92. The stock has a 50 day moving average of $26.44 and a 200-day moving average of $31.89. Bowhead Specialty has a 12 month low of $23.50 and a 12 month high of $42.29.

Bowhead Specialty (NYSE:BOW) last announced its earnings results on Monday, August 26th. The company reported $0.27 EPS for the quarter. The firm had revenue of $65.45 million for the quarter. Bowhead Specialty had a net margin of 10.12% and a return on equity of 13.53%. On average, equities analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BOW. State of Alaska Department of Revenue acquired a new position in Bowhead Specialty during the 3rd quarter worth about $42,000. SBI Securities Co. Ltd. purchased a new position in Bowhead Specialty in the first quarter valued at approximately $44,000. Raymond James Financial Inc. acquired a new stake in Bowhead Specialty during the second quarter worth approximately $52,000. Nemes Rush Group LLC purchased a new stake in shares of Bowhead Specialty during the 1st quarter worth approximately $61,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Bowhead Specialty by 99.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company’s stock valued at $72,000 after buying an additional 958 shares in the last quarter.

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.