Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $37.00 by Analysts at Bank of America

Goosehead Insurance (NASDAQ:GSHD) had its target price trimmed by Bank of America from $43.00 to $37.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an underperform rating on the stock.

GSHD has been the topic of a number of other research reports. Truist Financial reduced their target price on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. Citigroup restated an “outperform” rating on shares of Goosehead Insurance in a research note on Wednesday, February 18th. UBS Group cut their price target on Goosehead Insurance from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods cut their price target on Goosehead Insurance from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. cut their price target on Goosehead Insurance from $68.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and a consensus target price of $67.45.

Goosehead Insurance Stock Performance

GSHD stock opened at $40.50 on Tuesday. Goosehead Insurance has a fifty-two week low of $39.64 and a fifty-two week high of $114.76. The business’s 50 day moving average price is $47.42 and its two-hundred day moving average price is $62.59. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Goosehead Insurance had a negative return on equity of 21.31% and a net margin of 7.62%.The firm had revenue of $78.20 million for the quarter, compared to the consensus estimate of $99.67 million. During the same quarter in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, Director Louis Goldberg purchased 5,575 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $44.85 per share, for a total transaction of $250,038.75. Following the purchase, the director directly owned 5,575 shares of the company’s stock, valued at approximately $250,038.75. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 38.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in Goosehead Insurance by 85.7% during the 1st quarter. AQR Capital Management LLC now owns 4,332 shares of the company’s stock valued at $511,000 after purchasing an additional 1,999 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Goosehead Insurance by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,369 shares of the company’s stock valued at $1,578,000 after purchasing an additional 578 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Goosehead Insurance by 86.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company’s stock valued at $41,885,000 after purchasing an additional 164,693 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Goosehead Insurance by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,395 shares of the company’s stock valued at $6,894,000 after purchasing an additional 3,218 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in Goosehead Insurance by 28.2% during the 1st quarter. Intech Investment Management LLC now owns 11,179 shares of the company’s stock valued at $1,320,000 after purchasing an additional 2,461 shares during the last quarter.

About Goosehead Insurance

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.