BMO Capital Markets Issues Pessimistic Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by equities researchers at BMO Capital Markets from $148.00 to $142.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 48.04% from the company’s previous close.

Several other research analysts also recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $150.00 price objective on shares of Goosehead Insurance in a report on Thursday, April 24th. Bank of America increased their price objective on Goosehead Insurance from $39.00 to $43.00 and gave the stock an “underperform” rating in a report on Tuesday, February 25th. Truist Financial reiterated a “hold” rating and set a $90.00 price objective (up previously from $80.00) on shares of Goosehead Insurance in a research note on Tuesday, February 25th. Piper Sandler cut their target price on Goosehead Insurance from $132.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Goosehead Insurance from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and a consensus price target of $115.40.

Goosehead Insurance Price Performance

GSHD opened at $95.92 on Monday. The firm has a 50-day moving average price of $112.75 and a 200-day moving average price of $111.42. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. Goosehead Insurance has a twelve month low of $54.80 and a twelve month high of $130.39. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 133.22, a PEG ratio of 5.17 and a beta of 1.48.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Wednesday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $75.58 million for the quarter, compared to analysts’ expectations of $78.59 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Equities analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 19,600 shares of Goosehead Insurance stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $123.09, for a total value of $2,412,564.00. Following the completion of the transaction, the insider now directly owns 132,349 shares of the company’s stock, valued at $16,290,838.41. This trade represents a 12.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas Mcconnon sold 205,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $121.35, for a total value of $24,876,750.00. Following the sale, the director now owns 339,008 shares in the company, valued at approximately $41,138,620.80. This trade represents a 37.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 308,812 shares of company stock valued at $37,392,258 over the last ninety days. 48.35% of the stock is currently owned by company insiders.

Institutional Trading of Goosehead Insurance

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Goosehead Insurance by 192.9% during the first quarter. Bessemer Group Inc. now owns 290 shares of the company’s stock valued at $34,000 after buying an additional 191 shares during the last quarter. R Squared Ltd bought a new position in Goosehead Insurance in the 4th quarter valued at $39,000. Wilmington Savings Fund Society FSB bought a new position in Goosehead Insurance in the 3rd quarter valued at $63,000. Kestra Investment Management LLC purchased a new stake in Goosehead Insurance in the fourth quarter worth $63,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Goosehead Insurance by 462.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 619 shares of the company’s stock worth $64,000 after purchasing an additional 509 shares during the last quarter.

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.