Bowhead Specialty (NYSE:BOW) Trading Up 5% on Analyst Upgrade

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price was up 5% during trading on Tuesday after JMP Securities raised their price target on the stock from $31.00 to $32.00. JMP Securities currently has a market outperform rating on the stock. Bowhead Specialty traded as high as $30.60 and last traded at $30.60. Approximately 14,051 shares changed hands during trading, a decline of 91% from the average daily volume of 155,975 shares. The stock had previously closed at $29.14.

Several other equities research analysts have also issued reports on BOW. Morgan Stanley began coverage on Bowhead Specialty in a research report on Monday, June 17th. They set an “equal weight” rating and a $26.00 price target on the stock. JPMorgan Chase & Co. began coverage on Bowhead Specialty in a research report on Monday, June 17th. They issued a “neutral” rating and a $27.00 target price on the stock. Keefe, Bruyette & Woods began coverage on Bowhead Specialty in a research report on Monday, June 17th. They issued a “market perform” rating and a $30.00 target price on the stock. Finally, 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.40.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently modified their holdings of BOW. Allspring Global Investments Holdings LLC bought a new position in shares of Bowhead Specialty in the 2nd quarter valued at approximately $2,770,000. Peregrine Capital Management LLC acquired a new stake in shares of Bowhead Specialty in the second quarter worth $3,073,000. TD Asset Management Inc bought a new stake in shares of Bowhead Specialty during the 2nd quarter worth $265,000. Victory Capital Management Inc. acquired a new position in Bowhead Specialty in the 2nd quarter valued at $15,973,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Bowhead Specialty in the 2nd quarter worth $4,901,000.

Bowhead Specialty Stock Performance

The stock has a 50-day simple moving average of $28.91.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $98.90 million during the quarter, compared to analyst estimates of $94.28 million. The firm’s revenue for the quarter was up 51.0% on a year-over-year basis. As a group, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current year.

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.