Goosehead Insurance (NASDAQ:GSHD) Price Target Lowered to $136.00 at UBS Group

Key Points

• UBS Group has reduced its price target for Goosehead Insurance (NASDAQ:GSHD) from $140.00 to $136.00, while maintaining a "buy" rating, indicating a potential upside of 60.19% from the current price.
• Goosehead Insurance recently reported a quarterly earnings per share (EPS) of $0.49, falling short of the consensus estimate of $0.53, though revenue grew 20.4% year-over-year.
• The stock has also experienced a 3.1% decline, closing at $84.90 amid various changes in broker ratings and price targets from several firms.

Goosehead Insurance (NASDAQ:GSHD - Free Report) had its target price lowered by UBS Group from $140.00 to $136.00 in a report published on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other analysts also recently weighed in on GSHD. JPMorgan Chase & Co. decreased their price target on Goosehead Insurance from $100.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and issued a $150.00 target price on shares of Goosehead Insurance in a research note on Thursday, April 24th. BMO Capital Markets reduced their target price on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, July 25th. Keefe, Bruyette & Woods reduced their target price on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Finally, Piper Sandler restated a "neutral" rating and issued a $109.00 target price (down from $122.00) on shares of Goosehead Insurance in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $109.50.

Goosehead Insurance Trading Down 2.8%

Goosehead Insurance stock traded down $2.51 during trading hours on Monday, reaching $88.41. 131,316 shares of the company's stock were exchanged, compared to its average volume of 290,068. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 2.10. The firm's 50 day simple moving average is $101.99 and its 200 day simple moving average is $107.43. Goosehead Insurance has a twelve month low of $79.33 and a twelve month high of $130.39. The firm has a market capitalization of $3.32 billion, a PE ratio of 78.17, a PEG ratio of 8.02 and a beta of 1.42.

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

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder Lindy Langston sold 11,042 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $110.20, for a total value of $1,216,828.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 50,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $103.74, for a total transaction of $5,187,000.00. Following the completion of the transaction, the insider directly owned 132,349 shares in the company, valued at approximately $13,729,885.26. The trade was a 27.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,966 shares of company stock worth $12,407,821 in the last quarter. 48.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several large investors have recently added to or reduced their stakes in GSHD. Harbor Investment Advisory LLC lifted its position in shares of Goosehead Insurance by 9.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,083 shares of the company's stock worth $114,000 after buying an additional 98 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Goosehead Insurance by 0.6% during 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 position in shares of Goosehead Insurance by 117.1% during 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 position in shares of Goosehead Insurance by 20.7% during 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. lifted its position in shares of Goosehead Insurance by 192.9% during the 1st quarter. Bessemer Group Inc. now owns 290 shares of the company's stock worth $34,000 after buying an additional 191 shares in the last quarter.

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.