Bowhead Specialty (NYSE:BOW) Given New $36.00 Price Target at Keefe, Bruyette & Woods

Bowhead Specialty (NYSE:BOW) had its price objective hoisted by Keefe, Bruyette & Woods from $34.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.55% from the company’s previous close.

Several other brokerages have also recently issued reports on BOW. UBS Group set a $28.00 price objective on Bowhead Specialty in a report on Thursday, May 21st. Morgan Stanley raised their price objective on shares of Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday. Weiss Ratings raised shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Piper Sandler raised their price target on shares of Bowhead Specialty from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, Citizens Jmp cut their price objective on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. 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, Bowhead Specialty currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Bowhead Specialty Stock Performance

BOW opened at $31.99 on Wednesday. The company has a current ratio of 0.47, a quick 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 $35.35. The firm has a 50 day moving average of $27.48 and a two-hundred day moving average of $25.66. The firm has a market capitalization of $1.05 billion, a PE ratio of 18.49, a P/E/G ratio of 0.95 and a beta of -0.10.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The firm had revenue of $155.69 million for the quarter, compared to analyst estimates of $211.74 million. On average, analysts anticipate that Bowhead Specialty will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. American Family Investments Inc. lifted its stake in Bowhead Specialty by 6.9% in the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock valued at $188,542,000 after buying an additional 323,017 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Bowhead Specialty by 2.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,564,326 shares of the company’s stock valued at $44,646,000 after acquiring an additional 39,041 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bowhead Specialty by 36.7% in the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after acquiring an additional 404,199 shares during the last quarter. Polar Capital Holdings Plc increased its position in shares of Bowhead Specialty by 77.6% during the fourth quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock worth $34,962,000 after purchasing an additional 535,065 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Bowhead Specialty by 18.7% during the fourth quarter. Wasatch Advisors LP now owns 721,797 shares of the company’s stock worth $20,600,000 after purchasing an additional 113,840 shares in the last quarter.

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.