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

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by Royal Bank of Canada from $88.00 to $80.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets cut their price target on Goosehead Insurance from $95.00 to $90.00 and set an outperform rating for the company in a research note on Thursday, March 28th. JMP Securities reaffirmed a market outperform rating and issued a $100.00 target price on shares of Goosehead Insurance in a research note on Monday, April 15th. Truist Financial decreased their price objective on Goosehead Insurance from $75.00 to $70.00 and set a hold rating on the stock in a report on Thursday, March 28th. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Goosehead Insurance from $61.00 to $62.00 and gave the stock a neutral rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Goosehead Insurance has an average rating of Moderate Buy and an average target price of $80.89.

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $53.16 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 4.02. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The company has a market cap of $2.02 billion, a P/E ratio of 85.74, a PEG ratio of 4.32 and a beta of 1.28. The company has a fifty day simple moving average of $70.38 and a 200 day simple moving average of $72.67.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 621.70%. The firm had revenue of $64.46 million during the quarter, compared to analyst estimates of $66.24 million. Sell-side analysts predict that Goosehead Insurance will post 0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Desiree Coleman sold 8,952 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $80.05, for a total value of $716,607.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $74.92, for a total value of $2,722,368.04. Following the transaction, the insider now owns 132,349 shares in the company, valued at approximately $9,915,587.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Desiree Coleman sold 8,952 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $80.05, for a total transaction of $716,607.60. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. 48.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several institutional investors have recently modified their holdings of GSHD. State of Alaska Department of Revenue boosted its holdings in shares of Goosehead Insurance by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 15,041 shares of the company’s stock worth $1,140,000 after buying an additional 161 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Goosehead Insurance by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after acquiring an additional 165 shares during the period. Janney Capital Management LLC lifted its stake in Goosehead Insurance by 3.2% in the fourth quarter. Janney Capital Management LLC now owns 5,805 shares of the company’s stock worth $440,000 after acquiring an additional 181 shares during the period. Arizona State Retirement System boosted its position in Goosehead Insurance by 3.6% during the 3rd quarter. Arizona State Retirement System now owns 6,122 shares of the company’s stock valued at $456,000 after acquiring an additional 214 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Goosehead Insurance by 4.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,529 shares of the company’s stock worth $419,000 after buying an additional 242 shares during 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.