Keefe, Bruyette & Woods Issues Pessimistic Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its price objective reduced by stock analysts at Keefe, Bruyette & Woods from $130.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 37.64% from the company's current price.

A number of other research firms have also issued reports on GSHD. BMO Capital Markets decreased their price objective on Goosehead Insurance from $148.00 to $142.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. UBS Group reduced their target price on Goosehead Insurance from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. JMP Securities restated a "market outperform" rating and set a $150.00 target price on shares of Goosehead Insurance in a research report on Thursday, April 24th. Piper Sandler reiterated a "neutral" rating and issued a $109.00 price objective (down from $122.00) on shares of Goosehead Insurance in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $113.10.

Goosehead Insurance Stock Performance

Shares of GSHD traded down $16.25 during mid-day trading on Thursday, hitting $87.18. The stock had a trading volume of 841,357 shares, compared to its average volume of 275,885. The firm has a market cap of $3.27 billion, a P/E ratio of 74.04, a PEG ratio of 7.14 and a beta of 1.42. The business has a fifty day moving average price of $104.56 and a 200-day moving average price of $108.03. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.79 and a quick ratio of 2.79. Goosehead Insurance has a 52 week low of $73.09 and a 52 week high of $130.39.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $94.03 million during the quarter, compared to the consensus estimate of $94.18 million. Goosehead Insurance had a net margin of 9.51% and a negative return on equity of 99.91%. The business's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities research analysts expect that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Activity

In other news, major shareholder & Robyn Jones Descendants Mark sold 21,385 shares of the company'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 sale, the insider owned 132,349 shares of the company's stock, valued at approximately $13,864,881.24. This 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 can be accessed through the SEC website. Also, General Counsel John Terry O'connor sold 2,500 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $104.42, for a total value of $261,050.00. Following the completion of the transaction, the general counsel directly owned 1,000 shares in the company, valued at $104,420. This trade represents a 71.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,966 shares of company stock valued at $12,407,821. 48.35% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC boosted its position in Goosehead Insurance by 9.9% during the second quarter. Harbor Investment Advisory LLC now owns 1,083 shares of the company's stock worth $114,000 after acquiring an additional 98 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Goosehead Insurance by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 22,109 shares of the company's stock worth $2,371,000 after buying an additional 139 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Goosehead Insurance by 117.1% in the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company's stock worth $39,000 after buying an additional 178 shares in the last quarter. KBC Group NV lifted its holdings in Goosehead Insurance by 20.7% in the 1st quarter. KBC Group NV now owns 1,101 shares of the company's stock worth $130,000 after buying an additional 189 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Goosehead Insurance by 192.9% in the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after purchasing an additional 191 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.