Goosehead Insurance (NASDAQ:GSHD) PT Lowered to $35.00 at Bank of America

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by stock analysts at Bank of America from $36.00 to $35.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price target would suggest a potential downside of 41.94% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Piper Sandler cut their price objective on Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price objective on shares of Goosehead Insurance in a research note on Monday, April 15th. Truist Financial cut their price objective on Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

Goosehead Insurance Stock Performance

NASDAQ:GSHD traded down $3.43 during mid-day trading on Thursday, reaching $60.28. The company’s stock had a trading volume of 159,832 shares, compared to its average volume of 307,700. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The firm’s fifty day moving average price is $62.63 and its two-hundred day moving average price is $71.35. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31. The stock has a market cap of $2.29 billion, a P/E ratio of 97.23, a PEG ratio of 3.45 and a beta of 1.31.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. The firm had revenue of $64.46 million during the quarter, compared to analyst estimates of $66.24 million. On average, equities analysts forecast that Goosehead Insurance will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark Miller bought 10,000 shares of the stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $58.06 per share, for a total transaction of $580,600.00. Following the transaction, the chief operating officer now owns 30,000 shares of the company’s stock, valued at $1,741,800. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mark E. Jr. Jones purchased 1,332 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $74.86 per share, for a total transaction of $99,713.52. Following the acquisition, the chief financial officer now owns 1,332 shares of the company’s stock, valued at approximately $99,713.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mark Miller purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $58.06 per share, for a total transaction of $580,600.00. Following the acquisition, the chief operating officer now directly owns 30,000 shares in the company, valued at approximately $1,741,800. The disclosure for this purchase can be found here. Insiders acquired 17,582 shares of company stock worth $1,141,849 in the last three months. 48.35% of the stock is owned by company insiders.

Institutional Trading of Goosehead Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. USA Financial Formulas increased its stake in Goosehead Insurance by 5,350.0% in the fourth quarter. USA Financial Formulas now owns 327 shares of the company’s stock worth $25,000 after purchasing an additional 321 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Goosehead Insurance in the fourth quarter worth $35,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Goosehead Insurance in the first quarter worth $35,000. Harvest Fund Management Co. Ltd purchased a new stake in Goosehead Insurance in the third quarter worth $37,000. Finally, CENTRAL TRUST Co purchased a new stake in Goosehead Insurance in the first quarter worth $67,000.

About Goosehead Insurance

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.