BMO Capital Markets Lowers Goosehead Insurance (NASDAQ:GSHD) Price Target to $72.00

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

Other analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on Goosehead Insurance from $88.00 to $80.00 and set an outperform rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on Goosehead Insurance from $62.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, April 25th. JMP Securities restated a market outperform rating and set a $100.00 price objective on shares of Goosehead Insurance in a report on Monday, April 15th. TD Cowen began coverage on shares of Goosehead Insurance in a research note on Wednesday, January 10th. They issued an outperform rating and a $105.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Goosehead Insurance from $93.00 to $85.00 and set an outperform rating for the company in a research report on Thursday, April 25th. Two equities 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 currently has a consensus rating of Moderate Buy and an average target price of $78.89.

Goosehead Insurance Price Performance

Shares of GSHD opened at $58.63 on Tuesday. The firm has a market cap of $2.23 billion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 3.65 and a beta of 1.31. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $92.76. The business’s 50 day moving average price is $66.42 and its two-hundred day moving average price is $71.98. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73.

Goosehead Insurance (NASDAQ:GSHD) last released 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. The company had revenue of $64.46 million for the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. On average, equities analysts anticipate that Goosehead Insurance will post 0.7 EPS for the current year.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, COO Mark Miller purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $58.06 per share, for a total transaction of $580,600.00. Following the completion of the acquisition, the chief operating officer now owns 30,000 shares of the company’s stock, valued at approximately $1,741,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder & Robyn Jones Descendants Mark sold 36,337 shares of the business’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 transaction, the insider now directly owns 132,349 shares in the company, valued at approximately $9,915,587.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark Miller bought 10,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now owns 30,000 shares of the company’s stock, valued at $1,741,800. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 17,582 shares of company stock worth $1,141,849 and have sold 66,293 shares worth $5,104,822. Company insiders own 48.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Goosehead Insurance in the third quarter valued at $494,000. State of Alaska Department of Revenue purchased a new position in shares of Goosehead Insurance during the third quarter worth approximately $1,109,000. Maryland State Retirement & Pension System bought a new stake in shares of Goosehead Insurance in the 3rd quarter worth approximately $656,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Goosehead Insurance in the 3rd quarter valued at $1,048,000. Finally, Bank of New York Mellon Corp raised its position in 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 worth $13,548,000 after purchasing an additional 102,992 shares during the period.

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.