Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $85.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $93.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 60.77% from the stock’s current price.

Several other equities analysts have also issued reports on GSHD. BMO Capital Markets dropped their price target on Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note 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 target on the stock. JPMorgan Chase & Co. raised their price objective on Goosehead Insurance from $61.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, April 8th. JMP Securities reiterated a “market outperform” rating and issued a $100.00 price objective on shares of Goosehead Insurance in a research report on Monday, April 15th. Finally, Piper Sandler decreased their target price on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.33.

Goosehead Insurance Price Performance

Goosehead Insurance stock traded down $7.33 during midday trading on Thursday, reaching $52.87. The company’s stock had a trading volume of 250,989 shares, compared to its average volume of 280,516. The stock has a market cap of $2.01 billion, a PE ratio of 93.16, a price-to-earnings-growth ratio of 4.31 and a beta of 1.28. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02. The business has a 50-day moving average price of $70.97 and a 200-day moving average price of $72.75. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $92.76.

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

Insider Buying and Selling

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 132,349 shares in the company, valued at $9,915,587.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Desiree Coleman sold 8,952 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $80.05, for a total value of $716,607.60. The disclosure for this sale can be found here. In the last 90 days, 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 currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Goosehead Insurance by 17.8% during the third quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock worth $173,847,000 after buying an additional 351,630 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in Goosehead Insurance in the 3rd quarter valued at approximately $23,614,000. Wasatch Advisors LP boosted its holdings in Goosehead Insurance by 17.2% in the 1st quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock valued at $140,025,000 after purchasing an additional 308,312 shares in the last quarter. 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 acquiring an additional 180,606 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Goosehead Insurance during the 3rd quarter valued at approximately $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.