Goosehead Insurance (NASDAQ:GSHD) Reaches New 52-Week Low Following Analyst Downgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) shares reached a new 52-week low during trading on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $93.00 to $85.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Goosehead Insurance traded as low as $50.47 and last traded at $53.17, with a volume of 238321 shares changing hands. The stock had previously closed at $60.20.

Other research analysts have also issued reports about the stock. TD Cowen assumed coverage on shares of Goosehead Insurance in a research note on Wednesday, January 10th. They set an “outperform” rating and a $105.00 price objective on the stock. Truist Financial lowered their price objective on shares of Goosehead Insurance from $75.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. boosted their price objective on shares of Goosehead Insurance from $61.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 target price on shares of Goosehead Insurance in a report on Monday, April 15th. Finally, BMO Capital Markets reduced their target price on shares of Goosehead Insurance from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.33.

Insiders Place Their Bets

In other news, General Counsel John Terry O’connor acquired 1,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $73.46 per share, for a total transaction of $73,460.00. Following the completion of the transaction, the general counsel now owns 1,000 shares of the company’s stock, valued at $73,460. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Desiree Coleman sold 8,952 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John Terry O’connor bought 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $73.46 per share, with a total value of $73,460.00. Following the completion of the acquisition, the general counsel now owns 1,000 shares of the company’s stock, valued at approximately $73,460. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. Company insiders own 38.03% of the company’s stock.

Institutional Trading of Goosehead Insurance

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

Goosehead Insurance Stock Down 11.7 %

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 company’s 50 day moving average price is $70.97 and its two-hundred day moving average price is $72.75. The firm has a market cap of $2.02 billion, a PE ratio of 93.16, a PEG ratio of 4.31 and a beta of 1.28.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 392.58%. The company had revenue of $64.46 million for the quarter, compared to analysts’ expectations of $66.24 million. On average, equities research analysts expect that Goosehead Insurance, Inc will post 0.8 EPS for the current fiscal year.

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.