JPMorgan Chase & Co. Cuts Goosehead Insurance (NASDAQ:GSHD) Price Target to $60.00

Goosehead Insurance (NASDAQ:GSHD) had its target price dropped by JPMorgan Chase & Co. from $68.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 32.37% from the stock’s current price.

GSHD has been the topic of a number of other research reports. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Piper Sandler upped their target price on shares of Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Texas Capital upgraded shares of Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.45.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded down $0.03 during trading hours on Thursday, reaching $45.33. 102,241 shares of the company were exchanged, compared to its average volume of 490,478. Goosehead Insurance has a 1 year low of $33.68 and a 1 year high of $79.85. The stock’s fifty day moving average is $61.69 and its 200 day moving average is $49.94. The firm has a market cap of $1.61 billion, a PE ratio of 33.16, a PEG ratio of 1.57 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. During the same period last year, the business posted $0.49 earnings per share. Goosehead Insurance’s revenue was up 20.6% compared to the same quarter last year. Research analysts expect that Goosehead Insurance will post 1.46 earnings per share for the current year.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total transaction of $325,150.00. Following the sale, the insider owned 58,530 shares of the company’s stock, valued at approximately $3,806,205.90. This trade represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Durable Capital Partners Lp acquired 150,000 shares of Goosehead Insurance stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the transaction, the insider directly owned 2,720,260 shares in the company, valued at approximately $128,722,703.20. The trade was a 5.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 339,979 shares of company stock valued at $18,446,632 and have sold 267,000 shares valued at $18,056,139. Insiders own 38.07% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several large investors have recently bought and sold shares of GSHD. Wasatch Advisors LP increased its position in shares of Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after purchasing an additional 559,087 shares in the last quarter. Langdon Equity Partners purchased a new position in Goosehead Insurance during the 4th quarter worth approximately $41,892,000. Janus Henderson Group PLC grew its stake in Goosehead Insurance by 3,485.1% during the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after buying an additional 376,114 shares during the last quarter. Akre Capital Management LLC increased its position in Goosehead Insurance by 1.4% during the fourth quarter. Akre Capital Management LLC now owns 371,096 shares of the company’s stock worth $27,331,000 after buying an additional 4,971 shares during the period. Finally, Bank of America Corp DE increased its position in Goosehead Insurance by 28.2% during the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after buying an additional 72,527 shares during the period.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.