Truist Financial Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $58.00

Goosehead Insurance (NASDAQ:GSHD) had its target price cut by Truist Financial from $72.00 to $58.00 in a research note released on Wednesday morning, MarketBeat reports. They currently have a hold rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of Goosehead Insurance in a research note on Monday, December 1st. They set a “buy” rating and a $93.00 price target on the stock. Citigroup reaffirmed an “outperform” rating on shares of Goosehead Insurance in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price target on shares of Goosehead Insurance from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Goosehead Insurance in a research report on Wednesday, January 28th. Finally, BMO Capital Markets decreased their target price on Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a report on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and a consensus price target of $84.00.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock opened at $44.45 on Wednesday. The stock has a 50 day moving average of $66.29 and a 200 day moving average of $72.66. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 2.64 and a beta of 1.54. Goosehead Insurance has a fifty-two week low of $42.87 and a fifty-two week high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The business had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $99.67 million. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.79 earnings per share. Analysts forecast that Goosehead Insurance will post 0.83 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller acquired 5,000 shares of the stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $72.34 per share, with a total value of $361,700.00. Following the transaction, the chief executive officer owned 35,000 shares in the company, valued at $2,531,900. The trade was a 16.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John Terry O’connor acquired 2,100 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the acquisition, the general counsel owned 3,100 shares in the company, valued at approximately $222,611. The trade was a 210.00% increase in their position. The SEC filing for this purchase provides additional information. 48.35% of the stock is owned by company insiders.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in shares of Goosehead Insurance by 85.7% in the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock valued at $511,000 after buying an additional 1,999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Goosehead Insurance by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock valued at $1,578,000 after acquiring an additional 578 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Goosehead Insurance by 86.6% during the first quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock worth $41,885,000 after purchasing an additional 164,693 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Goosehead Insurance by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock worth $6,894,000 after purchasing an additional 3,218 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Goosehead Insurance by 28.2% during the first quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock worth $1,320,000 after purchasing an additional 2,461 shares in the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.