Bowhead Specialty (NYSE:BOW) Price Target Raised to $38.00

Bowhead Specialty (NYSE:BOW) had its price target lifted by research analysts at Royal Bank Of Canada from $30.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 20.52% from the company’s previous close.

BOW has been the subject of several other reports. Citizens Jmp dropped their target price on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. UBS Group set a $28.00 price target on shares of 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 report on Tuesday, June 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley boosted their target price on shares of Bowhead Specialty from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.14.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.14 on Monday, hitting $31.53. 10,466 shares of the company were exchanged, compared to its average volume of 207,466. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $27.95 and a 200 day moving average price of $25.73. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 0.94 and a beta of -0.10. Bowhead Specialty has a 1-year low of $21.21 and a 1-year high of $34.21.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%.The firm had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $211.74 million. As a group, sell-side analysts predict that Bowhead Specialty will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BOW. Langdon Equity Partners purchased a new stake in shares of Bowhead Specialty in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc lifted its holdings 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 during the last quarter. Parallel Advisors LLC boosted its position in shares of Bowhead Specialty by 181.4% during the 1st 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 period. CWM LLC boosted its position in shares of Bowhead Specialty by 257.7% during the 4th 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 period. Finally, Raymond James Financial Inc. purchased a new position in shares of Bowhead Specialty during the 2nd quarter worth approximately $52,000.

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.