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

Goosehead Insurance (NASDAQ:GSHD) had its price objective lowered by investment analysts at Bank of America from $43.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price target points to a potential downside of 9.98% from the company’s current price.

Several other brokerages have also recently issued reports on GSHD. Wall Street Zen upgraded shares of Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Goosehead Insurance in a report on Wednesday, January 28th. Piper Sandler upgraded shares of Goosehead Insurance from a “neutral” rating to an “overweight” rating and set a $69.00 target price on the stock in a report on Wednesday, February 18th. UBS Group dropped their target price on shares of Goosehead Insurance from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Finally, BMO Capital Markets dropped their target price on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Goosehead Insurance has a consensus rating of “Hold” and a consensus target price of $67.45.

Goosehead Insurance Trading Down 1.9%

Shares of NASDAQ GSHD traded down $0.79 during mid-day trading on Tuesday, reaching $41.10. The company had a trading volume of 111,792 shares, compared to its average volume of 468,241. The business’s 50-day moving average is $47.81 and its 200-day moving average is $62.83. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 2.95 and a beta of 1.69. Goosehead Insurance has a 52 week low of $39.64 and a 52 week high of $114.76.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. The firm had revenue of $78.20 million for 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 business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, equities research analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Activity at Goosehead Insurance

In other news, Director Louis Goldberg purchased 5,575 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $44.85 per share, with a total value of $250,038.75. Following the completion of the transaction, the director owned 5,575 shares in the company, valued at $250,038.75. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 48.35% of the company’s stock.

Institutional Trading of Goosehead Insurance

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position 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 valued at $34,000 after buying an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after purchasing an additional 393 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Goosehead Insurance in the 4th quarter valued at approximately $41,000. Fifth Third Bancorp raised its position in shares of Goosehead Insurance by 71.4% in the 3rd quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after purchasing an additional 284 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Goosehead Insurance by 614.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,000 shares of the company’s stock valued at $74,000 after purchasing an additional 860 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.