Goosehead Insurance (NASDAQ:GSHD) Price Target Lowered to $110.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has reduced its price target for Goosehead Insurance (NASDAQ:GSHD) from $142.00 to $110.00, maintaining a "market perform" rating, indicating a potential upside of 24.82%.
• Goosehead Insurance reported $0.49 EPS for the last quarter, missing estimates by $0.04, with a revenue of $94.03 million.
• The stock has experienced mixed ratings, with one sell rating, five hold ratings, and four buy ratings, leading to an average rating of "Hold" with a consensus price target of $109.90.
• Recent insider transactions show significant selling activity, with insiders selling 118,966 shares valued at over $12 million in the past 90 days.

Goosehead Insurance (NASDAQ:GSHD - Free Report) had its price objective reduced by BMO Capital Markets from $142.00 to $110.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms have also commented on GSHD. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. JPMorgan Chase & Co. reduced their target price on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. JMP Securities reaffirmed a "market outperform" rating and set a $150.00 target price on shares of Goosehead Insurance in a research report on Thursday, April 24th. UBS Group reduced their target price on Goosehead Insurance from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $109.00 target price (down from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $109.50.

Goosehead Insurance Stock Up 2.2%

Shares of GSHD traded up $1.90 during trading hours on Friday, hitting $86.80. The company had a trading volume of 212,717 shares, compared to its average volume of 286,185. The company has a market capitalization of $3.26 billion, a PE ratio of 77.49, a price-to-earnings-growth ratio of 7.25 and a beta of 1.42. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10. Goosehead Insurance has a one year low of $79.33 and a one year high of $130.39. The company's fifty day moving average price is $103.08 and its two-hundred day moving average price is $107.78.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $94.03 million during the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a negative return on equity of 59.49% and a net margin of 8.76%. The company's revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, equities analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder & Robyn Jones Descendants Mark sold 21,385 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.76, for a total transaction of $2,240,292.60. Following the completion of the sale, the insider owned 132,349 shares of the company's stock, valued at $13,864,881.24. This trade represents a 13.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John Terry O'connor sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $104.42, for a total value of $261,050.00. Following the sale, the general counsel directly owned 1,000 shares of the company's stock, valued at approximately $104,420. This trade represents a 71.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,966 shares of company stock valued at $12,407,821 over the last quarter. 37.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GSHD. New York State Teachers Retirement System boosted its holdings in Goosehead Insurance by 5.0% in the second quarter. New York State Teachers Retirement System now owns 14,141 shares of the company's stock valued at $1,492,000 after purchasing an additional 673 shares during the period. TD Asset Management Inc lifted its holdings in Goosehead Insurance by 14.6% during the 2nd quarter. TD Asset Management Inc now owns 25,180 shares of the company's stock worth $2,657,000 after buying an additional 3,204 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Goosehead Insurance by 18.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 8,967 shares of the company's stock worth $946,000 after buying an additional 1,428 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Goosehead Insurance by 3.8% during the 2nd quarter. Yousif Capital Management LLC now owns 9,303 shares of the company's stock worth $982,000 after buying an additional 338 shares during the last quarter. Finally, Index Fund Advisors Inc. purchased a new stake in Goosehead Insurance during the 2nd quarter worth about $1,510,000.

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.