Keefe, Bruyette & Woods Has Lowered Expectations for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price target reduced by research analysts at Keefe, Bruyette & Woods from $80.00 to $72.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 22.55% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Citizens Jmp decreased their price target on shares of Goosehead Insurance from $125.00 to $100.00 and set a “market outperform” rating for the company in a report on Monday, April 13th. Bank of America cut their target price on Goosehead Insurance from $43.00 to $37.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded Goosehead Insurance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 9th. Cantor Fitzgerald lifted their price target on Goosehead Insurance from $67.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, UBS Group boosted their price target on Goosehead Insurance from $67.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.27.

Goosehead Insurance Stock Up 9.0%

NASDAQ GSHD opened at $58.75 on Thursday. The company has a fifty day moving average of $44.51 and a two-hundred day moving average of $49.11. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 1.91 and a beta of 1.41. Goosehead Insurance has a 52 week low of $33.68 and a 52 week high of $93.90.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The business had revenue of $95.63 million during the quarter, compared to analysts’ expectations of $103.30 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities research analysts anticipate that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Activity

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 82,689 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $41.77, for a total value of $3,453,919.53. Following the completion of the transaction, the insider owned 7,050,356 shares in the company, valued at approximately $294,493,370.12. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Martin Ellis Thornthwaite purchased 5,000 shares of the stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $41.50 per share, for a total transaction of $207,500.00. Following the transaction, the general counsel directly owned 5,000 shares of the company’s stock, valued at $207,500. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 12,800 shares of company stock worth $480,718 and sold 219,192 shares worth $9,092,267. Corporate insiders own 38.07% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

A number of hedge funds have recently modified their holdings of GSHD. Meixler Investment Management Ltd. boosted its holdings in Goosehead Insurance by 5.3% during the 4th quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock valued at $321,000 after acquiring an additional 220 shares during the period. Gibbs Wealth Management increased its stake in Goosehead Insurance by 3.8% during the 4th quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock worth $459,000 after buying an additional 227 shares during the period. The Manufacturers Life Insurance Company increased its stake in Goosehead Insurance by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock worth $1,268,000 after buying an additional 259 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Goosehead Insurance by 480.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after buying an additional 269 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in Goosehead Insurance by 5.0% during the 4th quarter. Blair William & Co. IL now owns 6,831 shares of the company’s stock worth $503,000 after buying an additional 323 shares in 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.