Goosehead Insurance (NASDAQ:GSHD) Reaches New 1-Year Low Following Analyst Downgrade

Goosehead Insurance (NASDAQ:GSHD)’s share price reached a new 52-week low during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $68.00 to $58.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Goosehead Insurance traded as low as $39.64 and last traded at $40.1650, with a volume of 83080 shares traded. The stock had previously closed at $42.25.

GSHD has been the subject of a number of other research reports. Royal Bank Of Canada assumed coverage on Goosehead Insurance in a report on Tuesday, March 17th. They set a “hold” rating and a $49.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial reduced their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Citizens Jmp reduced their price target on Goosehead Insurance from $140.00 to $125.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Activity

In other news, Director Louis Goldberg acquired 5,575 shares of Goosehead Insurance stock in a transaction dated Friday, February 20th. The stock was bought at an average price of $44.85 per share, for a total transaction of $250,038.75. Following the completion of the acquisition, the director directly owned 5,575 shares in the company, valued at approximately $250,038.75. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 48.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors have recently made changes to their positions in GSHD. EverSource Wealth Advisors LLC boosted its holdings in shares of Goosehead Insurance by 480.4% during the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after acquiring an additional 269 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Goosehead Insurance during the fourth quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Goosehead Insurance by 802.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after acquiring an additional 393 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Goosehead Insurance by 71.4% during the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock worth $51,000 after acquiring an additional 284 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Goosehead Insurance by 614.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after buying an additional 860 shares during the period.

Goosehead Insurance Stock Down 4.2%

The firm has a market capitalization of $1.48 billion, a P/E ratio of 38.93, a PEG ratio of 3.08 and a beta of 1.69. The firm has a 50 day moving average of $48.18 and a 200-day moving average of $63.26.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. The business had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $99.67 million. Goosehead Insurance had a negative return on equity of 21.31% and a net margin of 7.62%.The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, research analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Goosehead Insurance Company Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.