Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $85.00 by Analysts at Truist Financial

Goosehead Insurance (NASDAQ:GSHD) had its price target trimmed by Truist Financial from $90.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also recently issued reports on GSHD. Cantor Fitzgerald upgraded shares of Goosehead Insurance to a “strong-buy” rating in a research report on Wednesday, August 13th. UBS Group reduced their price target on shares of Goosehead Insurance from $140.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, July 28th. Piper Sandler dropped their price objective on shares of Goosehead Insurance from $109.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Zacks Research raised Goosehead Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Finally, BMO Capital Markets decreased their target price on Goosehead Insurance from $142.00 to $110.00 and set a “market perform” rating on the stock in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Goosehead Insurance currently has a consensus rating of “Hold” and a consensus target price of $108.91.

Goosehead Insurance Price Performance

Shares of Goosehead Insurance stock opened at $77.37 on Tuesday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 68.47, a PEG ratio of 6.80 and a beta of 1.34. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10. The stock’s 50-day simple moving average is $86.97 and its 200-day simple moving average is $100.15. Goosehead Insurance has a 52 week low of $77.02 and a 52 week high of $130.39.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Goosehead Insurance had a negative return on equity of 59.49% and a net margin of 8.76%.The business had revenue of $94.03 million for the quarter, compared to analysts’ expectations of $94.18 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Goosehead Insurance has set its FY 2025 guidance at EPS. As a group, analysts expect that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Adrienne Kebodeaux sold 3,000 shares of Goosehead Insurance stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $86.30, for a total value of $258,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $88.23, for a total value of $5,293,800.00. Following the transaction, the insider directly owned 132,349 shares in the company, valued at approximately $11,677,152.27. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 244,770 shares of company stock worth $21,568,721. Corporate insiders own 37.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP increased its position in Goosehead Insurance by 12.6% during the second quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company’s stock valued at $240,074,000 after acquiring an additional 253,777 shares during the last quarter. State Street Corp boosted its stake in shares of Goosehead Insurance by 1.4% during the 2nd quarter. State Street Corp now owns 1,027,500 shares of the company’s stock worth $108,412,000 after purchasing an additional 14,311 shares during the period. Geode Capital Management LLC grew its holdings in Goosehead Insurance by 25.4% during the 2nd quarter. Geode Capital Management LLC now owns 705,284 shares of the company’s stock valued at $74,422,000 after purchasing an additional 143,038 shares during the last quarter. Durable Capital Partners LP purchased a new stake in Goosehead Insurance in the 2nd quarter worth about $71,832,000. Finally, Balyasny Asset Management L.P. lifted its stake in Goosehead Insurance by 118.7% in the second quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company’s stock worth $58,744,000 after purchasing an additional 302,130 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.