Goosehead Insurance (NASDAQ:GSHD) Price Target Lowered to $120.00 at Royal Bank of Canada

Goosehead Insurance (NASDAQ:GSHDGet Rating) had its price target decreased by investment analysts at Royal Bank of Canada from $140.00 to $120.00 in a research note issued on Wednesday, The Fly reports. Royal Bank of Canada’s price objective would suggest a potential upside of 115.91% from the stock’s current price.

GSHD has been the topic of several other research reports. Piper Sandler decreased their target price on Goosehead Insurance from $120.00 to $75.00 in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Goosehead Insurance in a report on Monday, January 24th. Zacks Investment Research cut Goosehead Insurance from a “hold” rating to a “sell” rating in a report on Tuesday. JMP Securities cut their target price on Goosehead Insurance from $170.00 to $160.00 and set a “market outperform” rating for the company in a research note on Friday, January 14th. Finally, Truist Financial cut their target price on Goosehead Insurance from $75.00 to $60.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $126.43.

Goosehead Insurance stock traded up $2.87 during midday trading on Wednesday, hitting $55.58. 1,328 shares of the company were exchanged, compared to its average volume of 214,058. The firm has a market capitalization of $2.06 billion, a PE ratio of 219.32 and a beta of 0.67. Goosehead Insurance has a fifty-two week low of $52.01 and a fifty-two week high of $181.30. The business has a fifty day simple moving average of $73.36 and a two-hundred day simple moving average of $107.98.

Goosehead Insurance (NASDAQ:GSHDGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. Goosehead Insurance had a negative return on equity of 10.36% and a net margin of 3.57%. During the same quarter in the prior year, the company earned ($0.02) EPS. Equities research analysts expect that Goosehead Insurance will post 0.54 earnings per share for the current year.

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 17,226 shares of the stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $79.77, for a total value of $1,374,118.02. Following the sale, the insider now owns 132,349 shares of the company’s stock, valued at approximately $10,557,479.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 48.35% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GSHD. Citigroup Inc. grew its position in shares of Goosehead Insurance by 1.9% in the 3rd quarter. Citigroup Inc. now owns 3,996 shares of the company’s stock valued at $609,000 after buying an additional 73 shares during the last quarter. We Are One Seven LLC boosted its stake in Goosehead Insurance by 6.1% in the fourth quarter. We Are One Seven LLC now owns 1,768 shares of the company’s stock valued at $230,000 after acquiring an additional 102 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Goosehead Insurance by 1.2% during the third quarter. Royal Bank of Canada now owns 12,109 shares of the company’s stock worth $1,844,000 after purchasing an additional 140 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Goosehead Insurance by 6,133.3% during the third quarter. Captrust Financial Advisors now owns 187 shares of the company’s stock worth $28,000 after purchasing an additional 184 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Goosehead Insurance by 3.9% in the 4th quarter. Arizona State Retirement System now owns 5,219 shares of the company’s stock valued at $679,000 after purchasing an additional 194 shares during the last quarter. 99.18% of the stock is currently owned by institutional investors and hedge funds.

About Goosehead Insurance (Get Rating)

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates in two segments, Corporate Channel and Franchise Channel. It offers homeowner's, insurance, automotive, dwelling property insurance, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.

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