Goosehead Insurance (NASDAQ:GSHD) PT Lowered to $60.00

Goosehead Insurance (NASDAQ:GSHD) had its target price cut by Truist Financial from $70.00 to $60.00 in a research note released on Thursday, Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on GSHD. Piper Sandler dropped their price target on Goosehead Insurance from $88.00 to $65.00 and set an overweight rating on the stock in a research report on Thursday. BMO Capital Markets lowered their price objective on Goosehead Insurance from $95.00 to $90.00 and set an outperform rating on the stock in a report on Thursday, March 28th. TD Cowen initiated coverage on Goosehead Insurance in a report on Wednesday, January 10th. They issued an outperform rating and a $105.00 price objective on the stock. JMP Securities reaffirmed a market outperform rating and issued a $100.00 price objective on shares of Goosehead Insurance in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Goosehead Insurance from $62.00 to $59.00 and set a neutral rating on the stock in a report on Thursday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Goosehead Insurance has an average rating of Moderate Buy and an average price target of $80.89.

Goosehead Insurance Stock Performance

Shares of GSHD stock opened at $55.50 on Thursday. The stock has a market capitalization of $2.11 billion, a PE ratio of 89.52, a price-to-earnings-growth ratio of 3.99 and a beta of 1.28. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $92.76. The stock’s 50-day moving average price is $68.89 and its 200 day moving average price is $72.42. The company has a quick ratio of 1.82, a current ratio of 1.73 and a debt-to-equity ratio of 2.31.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $64.46 million for the quarter, compared to analysts’ expectations of $66.24 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. As a group, equities research analysts forecast that Goosehead Insurance will post 0.9 EPS for the current year.

Insider Transactions at Goosehead Insurance

In other news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $75.67, for a total transaction of $297,685.78. Following the sale, the insider now owns 132,349 shares of the company’s stock, valued at approximately $10,014,848.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Desiree Coleman sold 2,324 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $80.17, for a total value of $186,315.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $75.67, for a total value of $297,685.78. Following the completion of the sale, the insider now directly owns 132,349 shares in the company, valued at approximately $10,014,848.83. The disclosure for this sale can be found here. In the last quarter, insiders have bought 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Goosehead Insurance in the 3rd quarter valued at $494,000. State of Alaska Department of Revenue acquired a new position in Goosehead Insurance in the 3rd quarter valued at $1,109,000. Maryland State Retirement & Pension System acquired a new position in Goosehead Insurance in the 3rd quarter valued at $656,000. Raymond James Financial Services Advisors Inc. acquired a new position in Goosehead Insurance in the 3rd quarter valued at $1,048,000. Finally, Bank of New York Mellon Corp raised its holdings in Goosehead Insurance by 130.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 181,779 shares of the company’s stock valued at $13,548,000 after acquiring an additional 102,992 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner's, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.