Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $80.00 by Analysts at Royal Bank of Canada

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by equities research analysts at Royal Bank of Canada from $88.00 to $80.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 48.86% from the stock’s previous close.

A number of other analysts have also recently issued reports on GSHD. Keefe, Bruyette & Woods cut their price objective on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Goosehead Insurance from $61.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Truist Financial cut their price objective on 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 reaffirmed a “market outperform” rating and issued a $100.00 price objective on shares of Goosehead Insurance in a research report on Monday, April 15th. Finally, Piper Sandler lowered their target price on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Goosehead Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $82.33.

Goosehead Insurance Stock Down 10.7 %

Shares of GSHD stock traded down $6.46 on Thursday, hitting $53.74. 459,202 shares of the stock were exchanged, compared to its average volume of 283,493. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02. The firm has a market capitalization of $2.04 billion, a P/E ratio of 93.58, a price-to-earnings-growth ratio of 4.31 and a beta of 1.28. The business has a 50-day moving average of $70.38 and a 200 day moving average of $72.67. Goosehead Insurance has a fifty-two week low of $50.47 and a fifty-two week high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a negative return on equity of 392.58% and a net margin of 5.41%. The firm had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $66.24 million. Equities analysts anticipate that Goosehead Insurance will post 0.8 EPS for the current year.

Insider Activity at Goosehead Insurance

In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm’s stock in a transaction on 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 sale, the insider now 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 SEC, which is available at this hyperlink. In related news, General Counsel John Terry O’connor bought 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $73.46 per share, with a total value of $73,460.00. Following the acquisition, the general counsel now owns 1,000 shares of the company’s stock, valued at $73,460. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the transaction, the insider now directly owns 132,349 shares in the company, valued at $9,915,587.08. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. 38.03% of the stock is currently owned by company insiders.

Institutional Trading of Goosehead Insurance

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