Analysts Set Bowhead Specialty Holdings Inc. (NYSE:BOW) Target Price at $33.50

Bowhead Specialty Holdings Inc. (NYSE:BOW) has received a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.50.

Several analysts have weighed in on BOW shares. Piper Sandler lowered shares of Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Morgan Stanley raised their target price on shares of Bowhead Specialty from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th.

Bowhead Specialty Price Performance

Shares of BOW opened at $33.66 on Friday. Bowhead Specialty has a 52 week low of $21.21 and a 52 week high of $35.07. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 0.99 and a beta of -0.08. The stock has a 50 day moving average of $32.08 and a 200-day moving average of $27.49.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%.The business had revenue of $163.86 million for the quarter, compared to analyst estimates of $278.69 million. As a group, analysts forecast that Bowhead Specialty will post 2 EPS for the current year.

Institutional Trading of Bowhead Specialty

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in Bowhead Specialty by 3,401.2% during the 2nd quarter. California State Teachers Retirement System now owns 549,335 shares of the company’s stock worth $16,442,000 after buying an additional 533,645 shares during the last quarter. American Family Investments Inc. acquired a new stake in Bowhead Specialty in the second quarter worth $140,693,777. Bank of New York Mellon Corp bought a new stake in Bowhead Specialty in the second quarter valued at $1,607,000. Wasatch Advisors LP lifted its stake in Bowhead Specialty by 28.9% in the second quarter. Wasatch Advisors LP now owns 348,437 shares of the company’s stock valued at $10,429,000 after buying an additional 78,209 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Bowhead Specialty by 262.6% during the second quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock valued at $31,000 after acquiring an additional 751 shares during the period.

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.