Goosehead Insurance (NASDAQ:GSHD) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Goosehead Insurance (NASDAQ:GSHD) had its target price trimmed by Keefe, Bruyette & Woods from $72.00 to $66.00 in a research report released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Citigroup reaffirmed a “market outperform” rating on shares of Goosehead Insurance in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $76.00 price objective on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their target price 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, Citizens Jmp decreased their target price on shares of Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Goosehead Insurance presently has a consensus rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Price Performance

GSHD opened at $44.60 on Monday. The business’s 50-day moving average is $57.82 and its two-hundred day moving average is $50.04. Goosehead Insurance has a 1 year low of $33.68 and a 1 year high of $79.85. The firm has a market capitalization of $1.58 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD) last announced its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. The business had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts expect that Goosehead Insurance will post 1.45 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was 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 in the company, valued at $3,806,205.90. The trade was a 7.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Durable Capital Partners Lp bought 150,000 shares of Goosehead Insurance stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the completion of the transaction, the insider directly owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, 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 owned by insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of large investors have recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in shares of Goosehead Insurance by 36.9% during the third quarter. Versant Capital Management Inc now owns 1,057 shares of the company’s stock valued at $48,000 after acquiring an additional 285 shares in the last quarter. GAMMA Investing LLC boosted its stake in Goosehead Insurance by 37.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $54,000 after purchasing an additional 328 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Goosehead Insurance by 484.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 514 shares of the company’s stock worth $25,000 after purchasing an additional 426 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Goosehead Insurance by 12.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 6,500 shares of the company’s stock worth $315,000 after purchasing an additional 700 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Goosehead Insurance during the 2nd quarter worth approximately $48,000.

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.