Bowhead Specialty (NYSE:BOW) Rating Reiterated by Royal Bank of Canada

Bowhead Specialty (NYSE:BOW)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They currently have a $32.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 5.89% from the company’s current price.

Separately, JMP Securities upped their price objective on shares of Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.00.

Bowhead Specialty Stock Up 0.8 %

BOW stock traded up $0.25 during mid-day trading on Tuesday, reaching $30.22. The company had a trading volume of 48,902 shares, compared to its average volume of 177,687. The stock’s 50 day moving average is $29.49. Bowhead Specialty has a 52 week low of $22.14 and a 52 week high of $32.55.

Bowhead Specialty (NYSE:BOW) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $94.28 million. The company’s revenue for the quarter was up 51.0% on a year-over-year basis. On average, equities research analysts anticipate that Bowhead Specialty will post 1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

A number of large investors have recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. bought a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $117,000. Sandia Investment Management LP purchased a new position in Bowhead Specialty in the second quarter worth about $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bowhead Specialty in the second quarter worth 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 purchased a new position in Bowhead Specialty in the second quarter worth about $265,000.

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.