Goosehead Insurance (NASDAQ:GSHD) Given New $37.00 Price Target at Bank of America

Goosehead Insurance (NASDAQ:GSHD) had its target price boosted by stock analysts at Bank of America from $35.00 to $37.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective indicates a potential downside of 36.97% from the stock’s previous close.

GSHD has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Goosehead Insurance from $88.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. dropped their price objective on Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. BMO Capital Markets reduced their price objective on shares of Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Truist Financial decreased their price objective on Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods dropped their target price on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Goosehead Insurance Price Performance

Shares of NASDAQ GSHD traded down $1.57 during trading on Tuesday, hitting $58.70. 5,861 shares of the company were exchanged, compared to its average volume of 298,094. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.73. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $92.76. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 94.68, a PEG ratio of 3.38 and a beta of 1.45. The firm’s fifty day moving average price is $60.63 and its 200 day moving average price is $70.50.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, topping 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 company had revenue of $64.46 million for the quarter, compared to analyst estimates of $66.24 million. On average, sell-side analysts expect that Goosehead Insurance will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Mark Miller bought 10,000 shares of Goosehead Insurance stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now owns 30,000 shares in the company, valued at approximately $1,741,800. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 38.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Goosehead Insurance by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock worth $160,962,000 after buying an additional 46,861 shares in the last quarter. Wasatch Advisors LP grew its holdings in Goosehead Insurance by 17.2% during the 1st 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 in the last quarter. Motley Fool Asset Management LLC increased its position in shares of Goosehead Insurance by 407.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 533,500 shares of the company’s stock worth $35,542,000 after purchasing an additional 428,355 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Goosehead Insurance in the 3rd quarter valued at about $23,614,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Goosehead Insurance by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock worth $23,354,000 after purchasing an additional 30,626 shares during the last quarter.

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.