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

Bowhead Specialty (NYSE:BOW) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $30.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.06% from the company’s previous close.

A number of other research analysts have also recently weighed in on BOW. Citizens Jmp lowered their target price on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. UBS Group set a $28.00 price target on Bowhead Specialty in a report on Thursday, May 21st. Weiss Ratings upgraded Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Morgan Stanley upped their price objective on Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Bowhead Specialty presently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

Bowhead Specialty Stock Performance

NYSE BOW traded up $0.12 on Monday, reaching $30.82. 11,913 shares of the stock were exchanged, compared to its average volume of 206,857. Bowhead Specialty has a one year low of $21.21 and a one year high of $33.88. The firm has a market capitalization of $1.01 billion, a PE ratio of 17.79, a PEG ratio of 0.92 and a beta of -0.10. The company’s 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $25.80. 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 (NYSE:BOW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The business had revenue of $155.69 million for the quarter, compared to the consensus estimate of $211.74 million. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. Analysts expect that Bowhead Specialty will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors have recently added to or reduced their stakes in BOW. Langdon Equity Partners bought a new stake in Bowhead Specialty in the 4th quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in shares of Bowhead Specialty by 262.6% in the second 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 in the last quarter. Parallel Advisors LLC increased its position in Bowhead Specialty by 181.4% in the first quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock worth $37,000 after purchasing an additional 1,065 shares during the last quarter. CWM LLC raised its stake in Bowhead Specialty by 257.7% during the fourth quarter. CWM LLC now owns 1,481 shares of the company’s stock valued at $42,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Bowhead Specialty during 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.