Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $59.00

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $62.00 to $59.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 6.31% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Truist Financial dropped their target price 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. JMP Securities reissued a “market outperform” rating and issued a $100.00 target price on shares of Goosehead Insurance in a research report on Monday, April 15th. Piper Sandler dropped their target price 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. TD Cowen assumed coverage on shares of Goosehead Insurance in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 target price for the company. Finally, BMO Capital Markets dropped their target price 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.89.

Goosehead Insurance Stock Performance

Goosehead Insurance stock opened at $55.50 on Thursday. 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 $2.11 billion, a price-to-earnings ratio of 89.52, a price-to-earnings-growth ratio of 3.82 and a beta of 1.28. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.82. The firm’s fifty day moving average price is $69.62 and its 200 day moving average price is $72.53.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly 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 202.00%. The firm had revenue of $64.46 million for the quarter, compared to the consensus estimate of $66.24 million. On average, research analysts forecast that Goosehead Insurance will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction dated Wednesday, February 28th. The shares were 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 of the company’s stock, valued at approximately $9,915,587.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Goosehead Insurance news, major shareholder Desiree Coleman sold 2,324 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $80.17, for a total transaction of $186,315.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the transaction, the insider now directly owns 132,349 shares of the company’s stock, valued at $9,915,587.08. The disclosure for this sale can be found here. In 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. Company insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

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