Morgan Stanley Boosts Bowhead Specialty (NYSE:BOW) Price Target to $28.00

Bowhead Specialty (NYSE:BOW) had its target price lifted by equities research analysts at Morgan Stanley from $27.00 to $28.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 1.95% from the company’s current price.

Several other analysts have also issued reports on the stock. Citizens Jmp dropped their price objective 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. Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings raised Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Royal Bank Of Canada lowered their price target on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods upped their price target on Bowhead Specialty from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Bowhead Specialty Stock Down 0.6%

Shares of Bowhead Specialty stock opened at $28.56 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32. Bowhead Specialty has a 12-month low of $21.21 and a 12-month high of $38.65. The stock has a 50 day moving average price of $24.12 and a two-hundred day moving average price of $25.37. The stock has a market capitalization of $937.84 million, a P/E ratio of 16.50, a PEG ratio of 0.86 and a beta of -0.15.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. The business had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $211.74 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%. Equities analysts expect that Bowhead Specialty will post 1.98 earnings per share for the current year.

Institutional Trading of Bowhead Specialty

Several large investors have recently added to or reduced their stakes in BOW. Langdon Equity Partners bought a new position in shares of Bowhead Specialty in the fourth quarter valued at approximately $28,000. Parallel Advisors LLC increased 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 in the last quarter. State of Alaska Department of Revenue acquired a new position in Bowhead Specialty in the third quarter worth $42,000. CWM LLC grew its holdings in shares of Bowhead Specialty by 257.7% during the fourth quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bowhead Specialty in the second quarter valued at $52,000.

About Bowhead Specialty

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.