Goosehead Insurance (NASDAQ:GSHD) Price Target Cut to $160.00 by Analysts at JMP Securities

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by JMP Securities from $170.00 to $160.00 in a report published on Friday, The Fly reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also recently commented on GSHD. TheStreet cut shares of Goosehead Insurance from a b rating to a c+ rating in a research note on Wednesday, October 27th. Piper Sandler increased their target price on shares of Goosehead Insurance from $155.00 to $160.00 and gave the stock an overweight rating in a research note on Tuesday, October 5th. Keefe, Bruyette & Woods increased their price target on shares of Goosehead Insurance from $140.00 to $181.00 and gave the stock an outperform rating in a report on Wednesday, October 6th. Zacks Investment Research lowered shares of Goosehead Insurance from a hold rating to a sell rating in a report on Wednesday. Finally, Bank of America lowered shares of Goosehead Insurance from a neutral rating to an underperform rating and set a $154.00 target price on the stock. in a report on Monday, October 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $159.38.

GSHD stock opened at $98.59 on Friday. Goosehead Insurance has a 12-month low of $78.86 and a 12-month high of $181.30. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 259.45, a PEG ratio of 4.40 and a beta of 0.48. The company’s fifty day simple moving average is $130.04 and its 200 day simple moving average is $137.13.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, October 27th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.15 by $0.11. Goosehead Insurance had a net margin of 5.41% and a negative return on equity of 17.73%. The company had revenue of $41.60 million during the quarter, compared to the consensus estimate of $39.76 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts anticipate that Goosehead Insurance will post 0.33 earnings per share for the current year.

In related news, COO Michael C. Colby sold 9,254 shares of the company’s stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $131.00, for a total value of $1,212,274.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael C. Colby sold 801 shares of the company’s stock in a transaction dated Wednesday, December 29th. The stock was sold at an average price of $130.15, for a total transaction of $104,250.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,486 shares of company stock worth $24,585,573. Company insiders own 51.97% of the company’s stock.

A number of large investors have recently modified their holdings of GSHD. Teacher Retirement System of Texas acquired a new stake in shares of Goosehead Insurance during the 2nd quarter worth approximately $244,000. Rhumbline Advisers lifted its holdings in Goosehead Insurance by 14.6% in the 2nd quarter. Rhumbline Advisers now owns 23,150 shares of the company’s stock valued at $2,947,000 after purchasing an additional 2,942 shares in the last quarter. Swiss National Bank raised its holdings in shares of Goosehead Insurance by 11.0% during the 2nd quarter. Swiss National Bank now owns 40,300 shares of the company’s stock worth $5,130,000 after acquiring an additional 4,000 shares during the period. HighTower Advisors LLC raised its holdings in shares of Goosehead Insurance by 1.9% during the 2nd quarter. HighTower Advisors LLC now owns 7,808 shares of the company’s stock worth $996,000 after acquiring an additional 144 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Goosehead Insurance by 277.2% during the 2nd quarter. Citigroup Inc. now owns 3,923 shares of the company’s stock worth $499,000 after acquiring an additional 2,883 shares during the period. Institutional investors own 97.05% of the company’s stock.

About Goosehead Insurance

Goosehead Insurance, Inc is a holding company, which engages in the provision of independent personal lines insurance agency. It operates through the Corporate Channel and Franchise Channel segments. The Corporate Channel segment consists of company-owned and financed operations with employees who are hired, trained, and managed by the company.

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