Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $60.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective dropped by equities research analysts at Truist Financial from $70.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 8.11% from the stock’s current price.

GSHD has been the topic of several other reports. JMP Securities restated a “market outperform” rating and set a $100.00 price target on shares of Goosehead Insurance in a report on Monday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday. Keefe, Bruyette & Woods decreased their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada decreased their price target on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Piper Sandler decreased their price target on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.89.

Goosehead Insurance Trading Up 4.4 %

Goosehead Insurance stock opened at $55.50 on Thursday. 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 company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 89.52, a PEG ratio of 3.82 and a beta of 1.28. Goosehead Insurance has a one year low of $50.47 and a one year high of $92.76. The company’s fifty day moving average price is $69.62 and its two-hundred day moving average price is $72.53.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $64.46 million for the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. On average, analysts forecast that Goosehead Insurance will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the 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 sale, the insider now owns 132,349 shares in the company, valued at $9,915,587.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Goosehead Insurance news, General Counsel John Terry O’connor purchased 1,000 shares of the company’s 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 directly owns 1,000 shares of the company’s stock, valued at approximately $73,460. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders purchased 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. 48.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GSHD. Principal Financial Group Inc. acquired a new stake in shares of Goosehead Insurance during the third quarter worth approximately $9,501,000. Vanguard Group Inc. boosted its stake in 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 during the last quarter. Amalgamated Bank boosted its stake in 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 during the last quarter. FMR LLC boosted its stake in 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 during the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in Goosehead Insurance in the third quarter valued at approximately $23,614,000.

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.