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

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

Other analysts also recently issued research reports about the stock. Piper Sandler cut 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. TD Cowen began coverage on shares of Goosehead Insurance in a report on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 price target on shares of Goosehead Insurance in a report on Monday, April 15th. Royal Bank of Canada cut 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, BMO Capital Markets lowered their price objective 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.89.

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $55.50 on Thursday. The company has a quick ratio of 1.82, a current ratio of 1.73 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $2.11 billion, a P/E ratio of 89.52, a P/E/G ratio of 3.82 and a beta of 1.28. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The firm has a 50-day moving average price of $69.62 and a two-hundred day moving average price of $72.53.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $66.24 million. Analysts anticipate that Goosehead Insurance will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Desiree Coleman sold 8,952 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $80.05, for a total transaction of $716,607.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Desiree Coleman sold 8,952 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $80.05, for a total transaction of $716,607.60. The disclosure for this sale can be found here. In the last three months, 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

A number of large investors have recently made changes to their positions in the business. SYSTM Wealth Solutions LLC lifted its stake in shares of Goosehead Insurance by 2,189.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 3,342 shares of the company’s stock valued at $223,000 after buying an additional 3,196 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Goosehead Insurance by 53.0% in the first quarter. Verdence Capital Advisors LLC now owns 8,458 shares of the company’s stock valued at $563,000 after buying an additional 2,929 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of Goosehead Insurance by 5.3% in the first quarter. Equitable Trust Co. now owns 10,752 shares of the company’s stock valued at $716,000 after buying an additional 543 shares in the last quarter. CENTRAL TRUST Co bought a new position in shares of Goosehead Insurance in the first quarter valued at $67,000. Finally, Wesbanco Bank Inc. bought a new position in shares of Goosehead Insurance in the first quarter valued at $653,000.

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.