Morgan Stanley Forecasts Strong Price Appreciation for Bowhead Specialty (NYSE:BOW) Stock

Bowhead Specialty (NYSE:BOWGet Free Report) had its price objective hoisted by research analysts at Morgan Stanley from $27.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 1.95% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Zacks Research raised Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods raised their target price on Bowhead Specialty from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Citizens Jmp decreased their target price on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada lowered their price target on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings upgraded shares of Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

View Our Latest Analysis on BOW

Bowhead Specialty Price Performance

Bowhead Specialty stock opened at $28.56 on Thursday. The business’s 50-day simple moving average is $24.12 and its 200 day simple moving average is $25.37. 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 stock has a market cap of $937.84 million, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.86 and a beta of -0.15. Bowhead Specialty has a 12-month low of $21.21 and a 12-month high of $38.65.

Bowhead Specialty (NYSE:BOWGet Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The company had revenue of $155.69 million during the quarter, compared to analysts’ expectations of $211.74 million. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. As a group, research analysts anticipate that Bowhead Specialty will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Bowhead Specialty

Institutional investors have recently added to or reduced their stakes in the stock. American Family Investments Inc. boosted its stake in Bowhead Specialty by 6.9% in the 2nd quarter. American Family Investments Inc. now owns 5,023,778 shares of the company’s stock worth $188,542,000 after purchasing an additional 323,017 shares during the period. Victory Capital Management Inc. boosted its position in shares of Bowhead Specialty by 2.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,564,326 shares of the company’s stock worth $44,646,000 after buying an additional 39,041 shares during the period. Vanguard Group Inc. grew its holdings in shares of Bowhead Specialty by 36.7% during the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock worth $40,746,000 after buying an additional 404,199 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Bowhead Specialty by 73.3% during the third quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after buying an additional 597,191 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its position in Bowhead Specialty by 77.6% in the 4th quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock valued at $34,962,000 after buying an additional 535,065 shares during the last quarter.

About Bowhead Specialty

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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.

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Analyst Recommendations for Bowhead Specialty (NYSE:BOW)

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