JPMorgan Chase & Co. Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $68.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective decreased by JPMorgan Chase & Co. from $80.00 to $68.00 in a research report report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also recently commented on GSHD. 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. Cantor Fitzgerald set a $84.00 price objective on Goosehead Insurance in a research note on Monday. UBS Group reduced their target price on Goosehead Insurance from $121.00 to $90.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets decreased their target price on Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, February 18th. Finally, Jefferies Financial Group began coverage on Goosehead Insurance in a research note on Monday, December 1st. They issued a “buy” rating and a $93.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.78.

Goosehead Insurance Trading Up 2.2%

Shares of GSHD opened at $51.14 on Monday. The company’s fifty day simple moving average is $64.86 and its 200 day simple moving average is $71.76. Goosehead Insurance has a 1-year low of $42.87 and a 1-year high of $127.99. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 3.37 and a beta of 1.54.

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

Insider Buying and Selling at Goosehead Insurance

In other news, Director Louis Goldberg acquired 5,575 shares of the stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $44.85 per share, for a total transaction of $250,038.75. Following the transaction, the director directly owned 5,575 shares of the company’s stock, valued at approximately $250,038.75. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Miller bought 5,000 shares of Goosehead Insurance stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $72.34 per share, with a total value of $361,700.00. Following the transaction, the chief executive officer owned 35,000 shares of the company’s stock, valued at $2,531,900. This trade represents a 16.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

A number of institutional investors have recently bought and sold shares of GSHD. Caxton Associates LLP bought a new position in Goosehead Insurance in the second quarter valued at approximately $2,140,000. Panagora Asset Management Inc. acquired a new position in Goosehead Insurance in the 2nd quarter worth about $1,948,000. 3G Capital Partners LP increased its stake in shares of Goosehead Insurance by 105.6% in the second quarter. 3G Capital Partners LP now owns 462,500 shares of the company’s stock valued at $48,798,000 after buying an additional 237,500 shares during the period. King Luther Capital Management Corp raised its stake in shares of Goosehead Insurance by 4.9% during the second quarter. King Luther Capital Management Corp now owns 124,544 shares of the company’s stock valued at $13,141,000 after acquiring an additional 5,868 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Goosehead Insurance by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 146,330 shares of the company’s stock worth $15,439,000 after purchasing an additional 5,363 shares during the last quarter.

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.