Piper Sandler Reaffirms “Neutral” Rating for Goosehead Insurance (NASDAQ:GSHD)

Goosehead Insurance (NASDAQ:GSHD)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Sandler in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $109.00 target price on the stock, down from their previous target price of $122.00. Piper Sandler’s target price suggests a potential upside of 24.40% from the company’s previous close.

GSHD has been the subject of several other reports. UBS Group decreased their price target on shares of Goosehead Insurance from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. BMO Capital Markets decreased their target price on Goosehead Insurance from $148.00 to $142.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods upped their price target on Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Goosehead Insurance in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Goosehead Insurance from $100.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Goosehead Insurance has a consensus rating of “Hold” and a consensus price target of $109.90.

Goosehead Insurance Stock Down 1.6%

Shares of Goosehead Insurance stock opened at $87.62 on Thursday. The stock’s 50-day moving average is $104.16 and its 200 day moving average is $107.94. Goosehead Insurance has a one year low of $79.33 and a one year high of $130.39. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 77.54, a PEG ratio of 6.30 and a beta of 1.42. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.92 and a quick ratio of 2.79.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $94.03 million for the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a negative return on equity of 59.49% and a net margin of 8.76%. Goosehead Insurance’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities research analysts anticipate that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Lindy Langston sold 2,853 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $110.16, for a total transaction of $314,286.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 21,385 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $104.76, for a total transaction of $2,240,292.60. Following the transaction, the insider owned 132,349 shares in the company, valued at approximately $13,864,881.24. This trade represents a 13.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,966 shares of company stock worth $12,407,821. 48.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Goosehead Insurance by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,499,479 shares of the company’s stock valued at $267,994,000 after acquiring an additional 19,980 shares in the last quarter. Whitebark Investors LP bought a new position in Goosehead Insurance in the 4th quarter valued at $55,326,000. Goldman Sachs Group Inc. grew its stake in Goosehead Insurance by 86.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock valued at $41,885,000 after purchasing an additional 164,693 shares during the period. Northern Trust Corp increased its position in shares of Goosehead Insurance by 10.4% during the 4th quarter. Northern Trust Corp now owns 266,466 shares of the company’s stock valued at $28,570,000 after purchasing an additional 25,173 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Goosehead Insurance by 89.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 203,969 shares of the company’s stock worth $21,870,000 after purchasing an additional 96,309 shares during the period.

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.