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

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price was up 5% 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 traded hands during mid-day trading, a decline of 91% from the average daily volume of 155,975 shares. The stock had previously closed at $29.14.

BOW has been the topic of a number of other research reports. Keefe, Bruyette & Woods began coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They issued a “market perform” rating and a $30.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Bowhead Specialty in a report on Wednesday, August 7th. Morgan Stanley began coverage on shares of Bowhead Specialty in a research note on Monday, June 17th. They issued an “equal weight” rating and a $26.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Bowhead Specialty in a research note on Monday, June 17th. They issued a “neutral” rating and a $27.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.40.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds have recently modified their holdings of BOW. Point72 Asset Management L.P. acquired a new stake in shares of Bowhead Specialty during the second quarter worth about $117,000. Sandia Investment Management LP acquired a new stake in Bowhead Specialty during the second quarter worth approximately $127,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bowhead Specialty during the second quarter worth approximately $192,000. Davidson Kempner Capital Management LP acquired a new stake in Bowhead Specialty during the second quarter worth approximately $253,000. Finally, TD Asset Management Inc acquired a new position in shares of Bowhead Specialty in the 2nd quarter valued at $265,000.

Bowhead Specialty Stock Performance

The firm’s fifty day simple moving average is $28.91.

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