Truist Financial Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $60.00

Goosehead Insurance (NASDAQ:GSHD) had its target price trimmed by Truist Financial from $70.00 to $60.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the company. 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. TD Cowen started coverage on Goosehead Insurance in a report on Wednesday, January 10th. They issued an outperform rating and a $105.00 price target for 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 report on Thursday, March 28th. Keefe, Bruyette & Woods cut their price target on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on Goosehead Insurance from $62.00 to $59.00 and set a neutral rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $80.89.

Goosehead Insurance Price Performance

GSHD stock opened at $55.50 on Thursday. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $92.76. 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 stock’s 50 day moving average price is $68.89 and its 200 day moving average price is $72.42. The firm has a market cap of $2.11 billion, a P/E ratio of 89.52, a PEG ratio of 3.82 and a beta of 1.28.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $66.24 million. On average, sell-side analysts expect that Goosehead Insurance will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Goosehead Insurance

In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction on 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 directly owns 132,349 shares in the company, valued at approximately $9,915,587.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 132,349 shares of the company’s stock, valued at approximately $9,915,587.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mark Miller purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $73.86 per share, with a total value of $369,300.00. Following the completion of the transaction, the chief operating officer now owns 20,000 shares in the company, valued at approximately $1,477,200. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,582 shares of company stock worth $561,249 and sold 68,617 shares worth $5,291,137. Insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas lifted its position in shares of Goosehead Insurance by 5,350.0% during the fourth quarter. USA Financial Formulas now owns 327 shares of the company’s stock worth $25,000 after purchasing an additional 321 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Goosehead Insurance during the fourth quarter worth about $35,000. Harvest Fund Management Co. Ltd bought a new position in shares of Goosehead Insurance during the third quarter worth about $37,000. CENTRAL TRUST Co bought a new position in shares of Goosehead Insurance during the first quarter worth about $67,000. Finally, Signaturefd LLC lifted its position in shares of Goosehead Insurance by 28.9% during the third quarter. Signaturefd LLC now owns 1,116 shares of the company’s stock worth $83,000 after purchasing an additional 250 shares during 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.