Goosehead Insurance (NASDAQ:GSHD) Price Target Lowered to $60.00 at Truist Financial

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

Several other brokerages have also recently issued reports on GSHD. BMO Capital Markets lowered their target price on shares of Goosehead Insurance from $95.00 to $90.00 and set an outperform rating on the stock in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lowered their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an outperform rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Goosehead Insurance from $88.00 to $80.00 and set an outperform rating on the stock in a research report on Thursday. Finally, Piper Sandler lowered their price target on shares of Goosehead Insurance from $88.00 to $65.00 and set an overweight rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $80.89.

Goosehead Insurance Trading Down 11.7 %

Shares of GSHD opened at $53.16 on Thursday. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $92.76. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 4.02. The firm’s fifty day moving average is $70.38 and its two-hundred day moving average is $72.67. The stock has a market cap of $2.02 billion, a PE ratio of 85.74, a price-to-earnings-growth ratio of 4.32 and a beta of 1.28.

Goosehead Insurance (NASDAQ:GSHD) last announced 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. Goosehead Insurance had a net margin of 5.99% and a return on equity of 621.70%. The company had revenue of $64.46 million for the quarter, compared to analysts’ expectations of $66.24 million. Research analysts forecast that Goosehead Insurance will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 3,934 shares of the business’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 sale, the insider now directly owns 132,349 shares in the company, valued at $10,014,848.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Goosehead Insurance news, CFO Mark E. Jr. Jones bought 1,332 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the chief financial officer now directly owns 1,332 shares in the company, valued at $99,713.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the insider now directly owns 132,349 shares of the company’s stock, valued at $10,014,848.83. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 7,582 shares of company stock worth $561,249 and have sold 68,617 shares worth $5,291,137. Insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Goosehead Insurance by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after purchasing an additional 36,676 shares in the last quarter. Wasatch Advisors LP lifted its stake in 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 last quarter. Loomis Sayles & Co. L P purchased a new stake in Goosehead Insurance in the third quarter valued at approximately $23,614,000. Dimensional Fund Advisors LP lifted its stake in Goosehead Insurance by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock valued at $23,354,000 after buying an additional 30,626 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Goosehead Insurance by 14.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock valued at $22,359,000 after buying an additional 37,805 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.