Royal Bank of Canada Trims Goosehead Insurance (NASDAQ:GSHD) Target Price to $80.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective decreased by Royal Bank of Canada from $88.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts also recently commented on the company. BMO Capital Markets reduced their target price on Goosehead Insurance from $95.00 to $90.00 and set an outperform rating for the company in a research note on Thursday, March 28th. JMP Securities restated a market outperform rating and set a $100.00 price objective on shares of Goosehead Insurance in a report on Monday, April 15th. Piper Sandler cut their target price on Goosehead Insurance from $88.00 to $65.00 and set an overweight rating on the stock in a report on Thursday. TD Cowen initiated coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They issued an outperform rating and a $105.00 price target for the company. Finally, Truist Financial lowered their price objective on shares of Goosehead Insurance from $75.00 to $70.00 and set a hold rating on the stock in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $80.89.

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $55.50 on Thursday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 89.52, a PEG 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 company has a debt-to-equity ratio of 2.31, a quick ratio of 1.82 and a current ratio of 1.73. The stock’s 50 day moving average price is $68.89 and its two-hundred day moving average price is $72.42.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $64.46 million for the quarter, compared to analyst estimates of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. On average, equities analysts predict that Goosehead Insurance will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In other news, CFO Mark E. Jr. Jones acquired 1,332 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $74.86 per share, for a total transaction of $99,713.52. Following the purchase, the chief financial officer now owns 1,332 shares in the company, valued at approximately $99,713.52. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Goosehead Insurance news, CFO Mark E. Jr. Jones acquired 1,332 shares of the business’s stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $74.86 per share, with a total value of $99,713.52. Following the completion of the transaction, the chief financial officer now owns 1,332 shares in the company, valued at $99,713.52. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Mark Miller bought 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $73.86 per share, with a total value of $369,300.00. Following the completion of the transaction, the chief operating officer now owns 20,000 shares in the company, valued at $1,477,200. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. Company insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Several hedge funds have recently added to or reduced their stakes in GSHD. Vanguard Group Inc. raised its holdings in shares of Goosehead Insurance by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock worth $173,847,000 after purchasing an additional 351,630 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Goosehead Insurance in the third quarter worth $23,614,000. Wasatch Advisors LP raised its stake in shares of Goosehead Insurance by 17.2% in the first quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock valued at $140,025,000 after buying an additional 308,312 shares during the period. Barclays PLC lifted its position in shares of Goosehead Insurance by 1,673.1% during the 3rd quarter. Barclays PLC now owns 191,401 shares of the company’s stock valued at $14,266,000 after buying an additional 180,606 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Goosehead Insurance during the 3rd quarter worth $9,501,000.

Goosehead Insurance Company Profile

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.