Bowhead Specialty (NYSE:BOW) Price Target Raised to $33.00

Bowhead Specialty (NYSE:BOW) had its target price raised by JPMorgan Chase & Co. from $30.00 to $33.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on the company. UBS Group set a $28.00 target price on Bowhead Specialty in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Citizens Jmp reduced 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. Finally, Piper Sandler boosted their target price on shares of Bowhead Specialty from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus target price of $33.71.

Bowhead Specialty Price Performance

BOW stock opened at $29.24 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47. The company’s 50-day moving average is $28.62 and its 200-day moving average is $25.83. The stock has a market capitalization of $960.11 million, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.91 and a beta of -0.10. Bowhead Specialty has a 1 year low of $21.21 and a 1 year high of $33.83.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, May 5th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $155.69 million during the quarter, compared to analyst estimates of $211.74 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%. Equities research analysts expect that Bowhead Specialty will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

Large investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its stake in Bowhead Specialty by 28.9% during the 2nd quarter. Wasatch Advisors LP now owns 348,437 shares of the company’s stock valued at $10,429,000 after acquiring an additional 78,209 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Bowhead Specialty by 262.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock worth $31,000 after acquiring an additional 751 shares in the last quarter. Steelhead Wealth Management LLC purchased a new stake in shares of Bowhead Specialty in the first quarter valued at about $2,143,000. Parallel Advisors LLC raised its holdings in shares of Bowhead Specialty by 181.4% in the first 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 during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Bowhead Specialty by 1,796.3% in the first quarter. Royal Bank of Canada now owns 39,159 shares of the company’s stock valued at $878,000 after purchasing an additional 37,094 shares during 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.