Truist Financial Has Lowered Expectations for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Key Points

• Truist Financial has lowered its target price for Goosehead Insurance stock from $90.00 to $85.00, maintaining a "hold" rating.
• Goosehead Insurance shares experienced a slight decline of 0.7%, trading at $78.81 amid various analysts adjusting their ratings and price targets.
• Despite the rating adjustments, Goosehead Insurance reported a 20.4% year-over-year revenue increase, although its quarterly earnings fell short of consensus estimates.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) had its target price decreased by stock analysts at Truist Financial from $90.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price would indicate a potential upside of 7.86% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Zacks Research upgraded shares of Goosehead Insurance from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Cantor Fitzgerald raised Goosehead Insurance to a "strong-buy" rating in a report on Wednesday, August 13th. UBS Group cut their price objective on shares of Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, July 28th. BMO Capital Markets dropped their target price on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $108.91.

Goosehead Insurance Stock Down 0.7%

NASDAQ GSHD traded down $0.58 on Tuesday, reaching $78.81. The company had a trading volume of 44,870 shares, compared to its average volume of 298,612. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 69.38, a price-to-earnings-growth ratio of 6.67 and a beta of 1.34. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.92 and a current ratio of 2.92. Goosehead Insurance has a 1-year low of $77.02 and a 1-year high of $130.39. The company's fifty day moving average is $87.34 and its 200-day moving average is $100.31.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $94.03 million for the quarter, compared to analyst estimates of $94.18 million. Goosehead Insurance had a negative return on equity of 59.49% and a net margin of 8.76%.The firm's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. Goosehead Insurance has set its FY 2025 guidance at EPS. On average, research analysts forecast that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Adrienne Kebodeaux sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $86.30, for a total transaction of $258,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 600 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $87.01, for a total transaction of $52,206.00. Following the completion of the sale, the insider owned 132,349 shares of the company's stock, valued at $11,515,686.49. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,770 shares of company stock valued at $21,568,721 in the last three months. Insiders own 37.76% of the company's stock.

Institutional Trading of Goosehead Insurance

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Goosehead Insurance by 2.4% in the first quarter. Principal Financial Group Inc. now owns 121,654 shares of the company's stock valued at $14,362,000 after acquiring an additional 2,800 shares during the period. Cresset Asset Management LLC acquired a new stake in Goosehead Insurance in the 1st quarter valued at $401,000. Amundi grew its position in Goosehead Insurance by 181.0% in the 1st quarter. Amundi now owns 51,524 shares of the company's stock valued at $6,228,000 after purchasing an additional 33,188 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Goosehead Insurance in the 1st quarter valued at $208,000. Finally, Bessemer Group Inc. grew its position in Goosehead Insurance by 192.9% in the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock valued at $34,000 after purchasing an additional 191 shares during the period.

Goosehead Insurance Company Profile

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.

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