Goosehead Insurance (NASDAQ:GSHD) Given New $72.00 Price Target at BMO Capital Markets

Goosehead Insurance (NASDAQ:GSHD) had its target price lowered by BMO Capital Markets from $90.00 to $72.00 in a report published on Tuesday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Piper Sandler cut their price objective on Goosehead Insurance from $88.00 to $65.00 and set an overweight rating for the company in a research report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price objective on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut 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. TD Cowen began coverage on Goosehead Insurance in a research report on Wednesday, January 10th. They issued an outperform rating and a $105.00 price objective for the company. Finally, JMP Securities reiterated a market outperform rating and issued a $100.00 price objective on shares of Goosehead Insurance in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $78.89.

Goosehead Insurance Price Performance

Shares of NASDAQ GSHD opened at $56.91 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a fifty day moving average price of $68.19 and a 200 day moving average price of $72.33. 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 $2.16 billion, a PE ratio of 91.79, a P/E/G ratio of 3.53 and a beta of 1.28.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly 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 return on equity of 202.00% and a net margin of 5.99%. The firm had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. Sell-side analysts forecast that Goosehead Insurance will post 0.9 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of Goosehead Insurance stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total transaction of $2,722,368.04. Following the completion of the sale, the insider now owns 132,349 shares in the company, valued at approximately $9,915,587.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Goosehead Insurance news, major shareholder Desiree Coleman sold 17,070 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $80.15, for a total value of $1,368,160.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $74.92, for a total value of $2,722,368.04. Following the completion of the sale, the insider now directly owns 132,349 shares in the company, valued at $9,915,587.08. The disclosure for this sale can be found here. In the last quarter, insiders purchased 17,582 shares of company stock worth $1,141,849 and sold 66,293 shares worth $5,104,822. 38.03% of the stock is currently owned by company insiders.

Institutional Trading of Goosehead Insurance

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Goosehead Insurance in the 3rd quarter valued at about $494,000. State of Alaska Department of Revenue acquired a new position in shares of Goosehead Insurance in the 3rd quarter valued at about $1,109,000. Maryland State Retirement & Pension System acquired a new position in shares of Goosehead Insurance in the 3rd quarter valued at about $656,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Goosehead Insurance in the 3rd quarter valued at about $1,048,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Goosehead Insurance by 130.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 181,779 shares of the company’s stock valued at $13,548,000 after purchasing an additional 102,992 shares in 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.