Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $66.00 by Analysts at Keefe, Bruyette & Woods

Goosehead Insurance (NASDAQ:GSHD) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $72.00 to $66.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 50.28% from the stock’s current price.

GSHD has been the topic of a number of other reports. Citizens Jmp reduced their price target on shares of Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating on the stock in a research report on Monday. Piper Sandler lowered Goosehead Insurance from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $48.00 in a research report on Tuesday, October 6th. Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 29th. JPMorgan Chase & Co. decreased their price target on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Finally, Royal Bank Of Canada upped their price target on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.25.

Goosehead Insurance Trading Up 0.9%

GSHD traded up $0.41 during midday trading on Monday, hitting $43.92. The company’s stock had a trading volume of 85,300 shares, compared to its average volume of 488,795. The firm has a market cap of $1.56 billion, a P/E ratio of 32.05, a PEG ratio of 1.56 and a beta of 1.46. The firm has a 50-day moving average price of $59.18 and a two-hundred day moving average price of $49.99. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $79.85.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $103.30 million. During the same period last year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, equities analysts expect that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Transactions at Goosehead Insurance

In related news, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the transaction, the insider directly owned 273,027 shares of the company’s stock, valued at $19,111,890. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $69.71, for a total transaction of $8,713,750.00. Following the completion of the sale, the insider owned 6,870,180 shares in the company, valued at $478,920,247.80. The trade was a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 339,979 shares of company stock valued at $18,446,632 and sold 267,000 shares valued at $18,056,139. 38.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Wasatch Advisors LP increased its position in Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after buying an additional 559,087 shares during the last quarter. Janus Henderson Group PLC increased its stake in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after acquiring an additional 376,114 shares during the period. Bank of America Corp DE raised its holdings in Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after acquiring an additional 72,527 shares in the last quarter. 3G Capital Partners LP grew its holdings 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 in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Goosehead Insurance by 23.2% during the first quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after purchasing an additional 41,334 shares during the period.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.