Bowhead Specialty (NYSE:BOW) Price Target Raised to $39.00

by · The Cerbat Gem

Bowhead Specialty (NYSE:BOW – Free Report) had its price target raised by Morgan Stanley from $36.00 to $39.00 in a research report report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on the company. JMP Securities raised their price target on Bowhead Specialty from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, April 11th. JPMorgan Chase & Co. raised their price target on Bowhead Specialty from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Piper Sandler began coverage on Bowhead Specialty in a report on Wednesday, April 16th. They set an “overweight” rating and a $44.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Bowhead Specialty from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

View Our Latest Analysis on BOW

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock opened at $38.07 on Monday. Bowhead Specialty has a one year low of $22.14 and a one year high of $42.29. The stock’s fifty day moving average is $39.40 and its 200 day moving average is $35.70. The stock has a market cap of $1.24 billion and a P/E ratio of 29.06.

Bowhead Specialty (NYSE:BOW – Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $174.85 million during the quarter, compared to the consensus estimate of $105.17 million. Analysts predict that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Transactions at Bowhead Specialty

In other news, Director Ava Schnidman bought 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Bowhead Specialty

Large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its holdings in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after purchasing an additional 486 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Bowhead Specialty in the first quarter worth about $44,000. Nemes Rush Group LLC bought a new stake in shares of Bowhead Specialty in the first quarter worth about $61,000. New York State Common Retirement Fund bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $64,000. Finally, US Bancorp DE bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $76,000.

About Bowhead Specialty

(Get Free Report)

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.

Further Reading