JMP Securities Boosts Bowhead Specialty (NYSE:BOW) Price Target to $32.00

Bowhead Specialty (NYSE:BOW) had its price target hoisted by JMP Securities from $31.00 to $32.00 in a report published on Tuesday, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Bowhead Specialty in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods began coverage on Bowhead Specialty in a report on Monday, June 17th. They set a “market perform” rating and a $30.00 target price on the stock. Morgan Stanley assumed coverage on Bowhead Specialty in a research note on Monday, June 17th. They issued an “equal weight” rating and a $26.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on Bowhead Specialty in a research note on Monday, June 17th. They issued a “neutral” rating and a $27.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.40.

Bowhead Specialty Stock Up 3.4 %

Bowhead Specialty stock opened at $31.81 on Tuesday. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $32.55. The business’s 50-day moving average price is $29.15.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $94.28 million. Bowhead Specialty’s revenue was up 51.0% compared to the same quarter last year. Sell-side analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of Bowhead Specialty during the second quarter valued at $117,000. Sandia Investment Management LP bought a new stake in Bowhead Specialty during the 2nd quarter valued at about $127,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bowhead Specialty during the 2nd quarter valued at about $192,000. Davidson Kempner Capital Management LP purchased a new position in Bowhead Specialty in the second quarter worth about $253,000. Finally, TD Asset Management Inc bought a new position in shares of Bowhead Specialty in the second quarter worth approximately $265,000.

Bowhead Specialty Company Profile

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.