Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bowhead Specialty Holdings Inc. (NYSE:BOW) has earned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $33.3333.

A number of research firms recently weighed in on BOW. Zacks Research upgraded Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Royal Bank Of Canada reduced their target price on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Keefe, Bruyette & Woods decreased their target price on shares of Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Piper Sandler increased their price objective on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Finally, Morgan Stanley dropped their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th.

Bowhead Specialty Trading Down 3.1%

Shares of NYSE BOW opened at $23.81 on Friday. The business has a fifty day simple moving average of $25.25 and a 200-day simple moving average of $26.71. The company has a market cap of $780.49 million, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.74 and a beta of -1.06. Bowhead Specialty has a 12 month low of $22.15 and a 12 month high of $42.29. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.33.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. The business had revenue of $151.68 million during the quarter, compared to the consensus estimate of $145.99 million. Sell-side analysts predict that Bowhead Specialty will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Bowhead Specialty

A number of institutional investors have recently added to or reduced their stakes in the company. Langdon Equity Partners purchased a new stake in Bowhead Specialty in the fourth quarter valued at approximately $28,000. State of Alaska Department of Revenue purchased a new stake in Bowhead Specialty during the third quarter valued at about $42,000. CWM LLC lifted its stake in Bowhead Specialty by 257.7% during the fourth 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 last quarter. Raymond James Financial Inc. bought a new stake in Bowhead Specialty during the second quarter worth about $52,000. Finally, Royal Bank of Canada boosted its holdings in shares of Bowhead Specialty by 45.5% in the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after purchasing an additional 646 shares in 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.