Goosehead Insurance (NASDAQ:GSHD) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks reports.

GSHD has been the subject of a number of other research reports. UBS Group lifted their target price on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Royal Bank Of Canada upped 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. Truist Financial cut their price objective on Goosehead Insurance from $58.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, October 13th. Piper Sandler cut Goosehead Insurance from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $72.00 to $48.00 in a research report on Tuesday, October 6th. Finally, Citigroup restated a “market outperform” rating on shares of Goosehead Insurance in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Goosehead Insurance currently has an average rating of “Hold” and a consensus price target of $64.42.

Goosehead Insurance Price Performance

Shares of GSHD opened at $48.50 on Thursday. The business’s 50-day moving average is $55.18 and its 200-day moving average is $50.23. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 1.91 and a beta of 1.46. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $79.85.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.17. The firm had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the completion of the sale, the insider directly owned 273,027 shares of the company’s stock, valued at $19,111,890. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total transaction of $325,150.00. Following the transaction, the insider owned 58,530 shares in the company, valued at approximately $3,806,205.90. This trade represents a 7.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have bought 226,333 shares of company stock valued at $11,816,524 and have sold 267,000 shares valued at $18,056,139. 38.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP increased its holdings in shares of Goosehead Insurance by 32.3% during the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after acquiring an additional 559,087 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after acquiring an additional 376,114 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Goosehead Insurance in the 2nd quarter worth approximately $6,545,000. Bank of America Corp DE lifted its holdings in Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after purchasing an additional 72,527 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Goosehead Insurance by 23.2% during the first quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock worth $9,374,000 after purchasing an additional 41,334 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.