Goosehead Insurance (NASDAQ:GSHD) Stock Gets Price Target Reduction from Truist Financial

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by research analysts at Truist Financial from $58.00 to $48.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 9.19% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Citigroup restated a “market outperform” rating on shares of Goosehead Insurance in a report on Monday. UBS Group upped their target price on Goosehead Insurance from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Goosehead Insurance in a report on Monday. Finally, Citizens Jmp reduced their price target on shares of Goosehead Insurance from $100.00 to $80.00 and set a “market outperform” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.42.

Goosehead Insurance Price Performance

Shares of Goosehead Insurance stock opened at $43.96 on Tuesday. Goosehead Insurance has a one year low of $33.68 and a one year high of $79.85. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.56 and a beta of 1.46. The business has a 50-day simple moving average of $58.75 and a 200 day simple moving average of $50.00.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. The business had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. On average, sell-side analysts expect that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the transaction, the insider owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Durable Capital Partners Lp purchased 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the transaction, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. This represents a 5.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 339,979 shares of company stock worth $18,446,632 and have sold 267,000 shares worth $18,056,139. Insiders own 38.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GSHD. Wasatch Advisors LP boosted its position in shares of Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after buying an additional 559,087 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after buying an additional 376,114 shares in the last quarter. Bank of America Corp DE grew its holdings in Goosehead Insurance by 28.2% during the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after buying an additional 72,527 shares in the last quarter. 3G Capital Partners LP raised its position in Goosehead Insurance by 80.0% in the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock valued at $16,571,000 after buying an additional 100,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Goosehead Insurance by 23.2% in the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after buying an additional 41,334 shares during the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.