Royal Bank of Canada Trims Goosehead Insurance (NASDAQ:GSHD) Target Price to $80.00

Goosehead Insurance (NASDAQ:GSHD) had its price target cut by Royal Bank of Canada from $88.00 to $80.00 in a research note published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on GSHD. Truist Financial reduced their price objective on Goosehead Insurance from $75.00 to $70.00 and set a hold rating on the stock in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on Goosehead Insurance from $61.00 to $62.00 and gave the company a neutral rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods cut their price target on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating on the stock in a research note on Thursday. JMP Securities reaffirmed a market outperform rating and set a $100.00 price target on shares of Goosehead Insurance in a research note on Monday, April 15th. Finally, Piper Sandler cut their price target on Goosehead Insurance from $88.00 to $65.00 and set an overweight rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $80.89.

Goosehead Insurance Price Performance

Goosehead Insurance stock opened at $55.50 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.82 and a current ratio of 1.73. The firm has a market cap of $2.11 billion, a P/E ratio of 89.52, a P/E/G ratio of 3.82 and a beta of 1.28. The business’s fifty day moving average is $68.89 and its two-hundred day moving average is $72.42. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $92.76.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $64.46 million for the quarter, compared to analyst estimates of $66.24 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. Equities research analysts forecast that Goosehead Insurance will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Desiree Coleman sold 2,324 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $80.17, for a total value of $186,315.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Mark E. Jr. Jones bought 1,332 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $74.86 per share, with a total value of $99,713.52. Following the completion of the purchase, the chief financial officer now owns 1,332 shares of the company’s stock, valued at approximately $99,713.52. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Desiree Coleman sold 2,324 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $80.17, for a total value of $186,315.08. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 7,582 shares of company stock valued at $561,249 and have sold 68,617 shares valued at $5,291,137. Insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several large investors have recently modified their holdings of GSHD. SG Americas Securities LLC bought a new stake in shares of Goosehead Insurance in the third quarter worth about $494,000. State of Alaska Department of Revenue bought a new stake in shares of Goosehead Insurance in the third quarter worth about $1,109,000. Maryland State Retirement & Pension System bought a new stake in shares of Goosehead Insurance in the third quarter worth about $656,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Goosehead Insurance in the third quarter worth about $1,048,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Goosehead Insurance by 130.7% in the third quarter. Bank of New York Mellon Corp now owns 181,779 shares of the company’s stock worth $13,548,000 after acquiring an additional 102,992 shares in the last quarter.

Goosehead Insurance Company Profile

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.