BMO Capital Markets Lowers Goosehead Insurance (NASDAQ:GSHD) Price Target to $72.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective cut by equities researchers at BMO Capital Markets from $90.00 to $72.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 27.66% from the stock’s previous close.

A number of other analysts also recently issued reports on GSHD. TD Cowen started coverage on Goosehead Insurance in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Piper Sandler reduced their price target on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada lowered their price objective on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $100.00 target price on shares of Goosehead Insurance in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.89.

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD traded down $0.45 during midday trading on Tuesday, reaching $56.40. 55,373 shares of the company were exchanged, compared to its average volume of 301,127. The stock has a market cap of $2.14 billion, a PE ratio of 91.39, a price-to-earnings-growth ratio of 3.53 and a beta of 1.28. The business’s fifty day moving average is $68.89 and its two-hundred day moving average is $72.42. Goosehead Insurance has a one year low of $50.47 and a one year high of $92.76. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data 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 net margin of 5.99% and a return on equity of 202.00%. The business had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. As a group, analysts predict that Goosehead Insurance will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 132,349 shares in the company, valued at $9,915,587.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’s 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Desiree Coleman sold 8,952 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was 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 ninety 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 corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GSHD. Vanguard Group Inc. lifted its holdings in shares of Goosehead Insurance by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock worth $179,589,000 after buying an additional 36,676 shares during the period. Wasatch Advisors LP lifted its stake in Goosehead Insurance by 17.2% in the first quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock worth $140,025,000 after acquiring an additional 308,312 shares during the period. Loomis Sayles & Co. L P bought a new position in Goosehead Insurance during the 3rd quarter worth about $23,614,000. Dimensional Fund Advisors LP grew its holdings in Goosehead Insurance by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock worth $23,354,000 after acquiring an additional 30,626 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Goosehead Insurance by 14.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock valued at $22,359,000 after purchasing an additional 37,805 shares during the period.

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.