Bowhead Specialty (NYSE:BOW) Reaches New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOWGet Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.20 and last traded at $32.1250, with a volume of 1585 shares trading hands. The stock had previously closed at $31.21.

Analyst Ratings Changes

A number of brokerages have recently commented on BOW. Piper Sandler increased their price target on shares of Bowhead Specialty from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of Bowhead Specialty from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Citizens Jmp cut their target price on shares of 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. Weiss Ratings raised Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, Morgan Stanley raised their price target on Bowhead Specialty from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.71.

Read Our Latest Research Report on Bowhead Specialty

Bowhead Specialty Stock Performance

The firm has a market cap of $1.06 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 0.94 and a beta of -0.10. The company has a 50 day simple moving average of $28.85 and a 200-day simple moving average of $25.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47.

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, beating analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $155.69 million for 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, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently made changes to their positions in BOW. Bleakley Financial Group LLC bought a new stake in Bowhead Specialty in the fourth quarter worth $1,086,000. FJ Capital Management LLC bought a new position in shares of Bowhead Specialty during the fourth quarter valued at about $1,122,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Bowhead Specialty by 40.2% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 69,813 shares of the company’s stock worth $1,992,000 after buying an additional 20,032 shares during the period. Dockside LLC purchased a new position in shares of Bowhead Specialty in the fourth quarter worth about $1,070,000. Finally, State of Wyoming bought a new stake in shares of Bowhead Specialty in the 1st quarter valued at about $158,000.

Bowhead Specialty Company Profile

(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.

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