Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $80.00 by Analysts at Royal Bank of Canada

Goosehead Insurance (NASDAQ:GSHD) had its price target decreased by research analysts at Royal Bank of Canada from $88.00 to $80.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 48.86% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets reduced their price target on shares of Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. Truist Financial reduced their price target on shares of Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. Piper Sandler reduced their price target on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $100.00 price target on shares of Goosehead Insurance in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.33.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded down $6.46 during trading on Thursday, hitting $53.74. 459,202 shares of the stock were exchanged, compared to its average volume of 283,493. The stock’s fifty day moving average is $70.38 and its 200 day moving average is $72.67. The stock has a market cap of $2.04 billion, a PE ratio of 93.58, a P/E/G ratio of 4.31 and a beta of 1.28. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.82 and a current ratio of 1.82. Goosehead Insurance has a 12 month low of $50.47 and a 12 month high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. The company had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. As a group, sell-side analysts anticipate that Goosehead Insurance will post 0.8 EPS for the current year.

Insider Activity

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the completion of the sale, the insider now directly owns 132,349 shares in the company, valued at $9,915,587.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the completion of the sale, the insider now directly owns 132,349 shares in the company, valued at $9,915,587.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel John Terry O’connor acquired 1,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $73.46 per share, with a total value of $73,460.00. Following the completion of the transaction, the general counsel now owns 1,000 shares of the company’s stock, valued at $73,460. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 7,582 shares of company stock valued at $561,249 and sold 68,617 shares valued at $5,291,137. 38.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new position in shares of Goosehead Insurance during the 3rd quarter worth about $9,501,000. Vanguard Group Inc. lifted its holdings in shares of Goosehead Insurance by 17.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock valued at $173,847,000 after purchasing an additional 351,630 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Goosehead Insurance by 217.7% during the 3rd quarter. Amalgamated Bank now owns 10,143 shares of the company’s stock valued at $756,000 after purchasing an additional 6,950 shares in the last quarter. FMR LLC lifted its holdings in shares of Goosehead Insurance by 383.3% during the 3rd quarter. FMR LLC now owns 70,292 shares of the company’s stock valued at $5,239,000 after purchasing an additional 55,747 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Goosehead Insurance in the 3rd quarter valued at approximately $23,614,000.

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.