Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $35.00 by Analysts at Bank of America

Goosehead Insurance (NASDAQ:GSHD) had its target price trimmed by Bank of America from $36.00 to $35.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

GSHD has been the topic of a number of other research reports. JMP Securities reiterated a market outperform rating and set a $100.00 target price on shares of Goosehead Insurance in a report on Monday, April 15th. Keefe, Bruyette & Woods lowered their target price on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating on the stock in a report on Thursday, April 25th. BMO Capital Markets lowered their target price on Goosehead Insurance from $90.00 to $72.00 and set an outperform rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada lowered their target price on Goosehead Insurance from $88.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on Goosehead Insurance from $62.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $73.80.

Goosehead Insurance Stock Up 7.5 %

GSHD opened at $64.36 on Thursday. The business has a 50 day moving average price of $62.13 and a two-hundred day moving average price of $71.22. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.31. The company has a market cap of $2.45 billion, a PE ratio of 103.81, a P/E/G ratio of 3.44 and a beta of 1.31. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. As a group, research analysts anticipate that Goosehead Insurance will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Goosehead Insurance 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 transaction, 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 can be accessed through this hyperlink. In other news, 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 transaction, the insider now owns 132,349 shares of the company’s stock, 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. Also, COO Mark Miller acquired 10,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $58.06 per share, with a total value of $580,600.00. Following the transaction, the chief operating officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,741,800. The disclosure for this purchase can be found here. Company insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several large investors have recently made changes to their positions in GSHD. Bank of New York Mellon Corp grew its holdings in shares of Goosehead Insurance by 130.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 181,779 shares of the company’s stock worth $13,548,000 after purchasing an additional 102,992 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Goosehead Insurance by 67.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,919 shares of the company’s stock worth $292,000 after purchasing an additional 1,584 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Goosehead Insurance during the 3rd quarter worth about $880,000. Orion Portfolio Solutions LLC acquired a new position in Goosehead Insurance during the 3rd quarter worth about $204,000. Finally, Principal Financial Group Inc. acquired a new position in Goosehead Insurance during the 3rd quarter worth about $9,501,000.

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.