Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $35.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by equities researchers at Bank of America from $36.00 to $35.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 45.62% from the company’s current price.

A number of other brokerages have also recently commented on GSHD. JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets cut their price target on shares of Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, April 30th. JMP Securities reiterated a “market outperform” rating and issued a $100.00 price target on shares of Goosehead Insurance in a research note on Monday, April 15th. Royal Bank of Canada cut their target price on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Truist Financial cut their target price on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Goosehead Insurance Stock Up 7.5 %

Shares of GSHD stock opened at $64.36 on Thursday. The firm has a fifty day moving average of $62.13 and a 200-day moving average of $71.23. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.31. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 103.81, a P/E/G ratio of 3.40 and a beta of 1.31.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. The business had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $66.24 million. As a group, equities research analysts predict that Goosehead Insurance will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Goosehead Insurance news, COO Mark Miller purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now owns 30,000 shares in the company, valued at $1,741,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Mark Miller bought 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $58.06 per share, with a total value of $580,600.00. Following the acquisition, the chief operating officer now directly owns 30,000 shares in the company, valued at $1,741,800. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $75.67, for a total transaction of $297,685.78. Following the completion of the transaction, the insider now directly owns 132,349 shares in the company, valued at $10,014,848.83. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 17,582 shares of company stock valued at $1,141,849. 48.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds have recently bought and sold shares of the company. Motley Fool Asset Management LLC increased its holdings in Goosehead Insurance by 28.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 134,537 shares of the company’s stock valued at $8,963,000 after buying an additional 29,392 shares during the period. Grandeur Peak Global Advisors LLC grew its holdings in shares of Goosehead Insurance by 159.8% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 82,564 shares of the company’s stock valued at $5,500,000 after purchasing an additional 50,784 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Goosehead Insurance by 55.6% during the 1st quarter. Janus Henderson Group PLC now owns 15,972 shares of the company’s stock valued at $1,064,000 after purchasing an additional 5,705 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Goosehead Insurance by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,152 shares of the company’s stock valued at $410,000 after purchasing an additional 777 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Goosehead Insurance by 1.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 27,315 shares of the company’s stock valued at $1,818,000 after purchasing an additional 439 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.