JPMorgan Chase & Co. Has Lowered Expectations for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $68.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 32.37% from the company’s current price.

A number of other research firms have also recently weighed in on GSHD. Weiss Ratings cut Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Piper Sandler boosted their target price on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Texas Capital upgraded Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Finally, UBS Group boosted their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of “Moderate Buy” and a consensus target price of $68.45.

Goosehead Insurance Stock Performance

Goosehead Insurance stock traded down $0.03 during midday trading on Thursday, hitting $45.33. 102,241 shares of the company’s stock were exchanged, compared to its average volume of 490,478. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $79.85. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36. The firm’s 50 day simple moving average is $61.69 and its 200 day simple moving average is $49.94.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. During the same period in the prior year, the company earned $0.49 earnings per share. The business’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Goosehead Insurance will post 1.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total transaction of $325,150.00. Following the transaction, the insider directly owned 58,530 shares of the company’s stock, valued at $3,806,205.90. This represents a 7.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider owned 273,027 shares of the company’s stock, valued at $19,111,890. This represents a 2.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 339,979 shares of company stock valued at $18,446,632 and have sold 267,000 shares valued at $18,056,139. 38.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Goosehead Insurance

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its stake in shares of Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after acquiring an additional 559,087 shares during the last quarter. Langdon Equity Partners acquired a new position in Goosehead Insurance in the 4th quarter valued at about $41,892,000. Janus Henderson Group PLC raised its stake in Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after purchasing an additional 376,114 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Goosehead Insurance in the 2nd quarter valued at about $6,545,000. Finally, 3G Capital Partners LP boosted its stake in shares of Goosehead Insurance by 80.0% during the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock worth $16,571,000 after purchasing an additional 100,000 shares during the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.