Royal Bank of Canada Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $80.00

Goosehead Insurance (NASDAQ:GSHD) had its price target lowered by research analysts at Royal Bank of Canada from $88.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 44.14% from the stock’s current price.

A number of other brokerages have also recently issued reports on GSHD. JPMorgan Chase & Co. upped their target price on Goosehead Insurance from $61.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. TD Cowen started coverage on shares of Goosehead Insurance in a report on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price objective for the company. Keefe, Bruyette & Woods dropped their target price on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday. BMO Capital Markets cut 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. Finally, Piper Sandler lowered their price target on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Goosehead Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $80.89.

Goosehead Insurance Stock Up 4.4 %

Goosehead Insurance stock opened at $55.50 on Thursday. 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 1-year low of $50.47 and a 1-year high of $92.76. The firm’s fifty day simple moving average is $69.62 and its 200-day simple moving average is $72.53. The company has a current ratio of 1.73, a quick ratio of 1.82 and a debt-to-equity ratio of 2.31.

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

Insider Activity

In other news, CFO Mark E. Jr. Jones purchased 1,332 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $99,713.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Goosehead Insurance news, CFO Mark E. Jr. Jones acquired 1,332 shares of Goosehead Insurance stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $74.86 per share, with a total value of $99,713.52. Following the acquisition, the chief financial officer now owns 1,332 shares of the company’s stock, valued at $99,713.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’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 completion of the sale, the insider now directly owns 132,349 shares in the company, 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 valued at $561,249 and sold 68,617 shares valued at $5,291,137. 48.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its position in Goosehead Insurance by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 15,041 shares of the company’s stock valued at $1,140,000 after acquiring an additional 161 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Goosehead Insurance by 13.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after purchasing an additional 165 shares during the last quarter. Janney Capital Management LLC increased its position in shares of Goosehead Insurance by 3.2% during the 4th quarter. Janney Capital Management LLC now owns 5,805 shares of the company’s stock worth $440,000 after purchasing an additional 181 shares in the last quarter. Arizona State Retirement System lifted its holdings in Goosehead Insurance by 3.6% during the 3rd quarter. Arizona State Retirement System now owns 6,122 shares of the company’s stock valued at $456,000 after purchasing an additional 214 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Goosehead Insurance by 4.6% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,529 shares of the company’s stock valued at $419,000 after buying an additional 242 shares in 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.