JPMorgan Chase & Co. Has Lowered Expectations for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price objective reduced by JPMorgan Chase & Co. from $85.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.95% from the stock’s current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Goosehead Insurance in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Goosehead Insurance in a report on Friday, October 31st. Jefferies Financial Group assumed coverage on shares of Goosehead Insurance in a research report on Monday, December 1st. They issued a “buy” rating and a $93.00 target price for the company. Piper Sandler lowered their price target on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Truist Financial dropped their price objective on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.70.

Goosehead Insurance Stock Up 0.4%

GSHD opened at $74.80 on Wednesday. The company has a market cap of $2.76 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 9.25 and a beta of 1.53. Goosehead Insurance has a twelve month low of $64.40 and a twelve month high of $127.99. The company has a 50-day moving average price of $72.38 and a 200 day moving average price of $80.45.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.08). Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The firm had revenue of $90.44 million for the quarter, compared to analysts’ expectations of $94.25 million. During the same quarter last year, the firm posted $0.50 earnings per share. Goosehead Insurance’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Activity

In other Goosehead Insurance news, Director Thomas Mcconnon sold 69,686 shares of Goosehead Insurance stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $73.62, for a total transaction of $5,130,283.32. Following the transaction, the director directly owned 269,322 shares of the company’s stock, valued at $19,827,485.64. The trade was a 20.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John Terry O’connor bought 2,100 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $71.81 per share, for a total transaction of $150,801.00. Following the completion of the acquisition, the general counsel directly owned 3,100 shares in the company, valued at $222,611. The trade was a 210.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 7,973 shares of company stock valued at $577,487 in the last ninety days. 48.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. GAMMA Investing LLC raised its position in Goosehead Insurance by 262.3% in the fourth quarter. GAMMA Investing LLC now owns 3,525 shares of the company’s stock valued at $260,000 after purchasing an additional 2,552 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Goosehead Insurance during the 3rd quarter worth about $495,000. Jacobs Levy Equity Management Inc. purchased a new stake in Goosehead Insurance in the 3rd quarter valued at about $25,222,000. Morningstar Investment Management LLC acquired a new position in Goosehead Insurance in the third quarter valued at about $966,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in Goosehead Insurance by 2.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 27,209 shares of the company’s stock valued at $1,999,000 after buying an additional 566 shares during the last quarter.

Goosehead Insurance Company Profile

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.