Goosehead Insurance (NASDAQ:GSHD) Rating Lowered to Strong Sell at Zacks Research

Goosehead Insurance (NASDAQ:GSHD) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Royal Bank Of Canada upped their target price 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. Cantor Fitzgerald reissued an “overweight” rating and set a $76.00 price target on shares of Goosehead Insurance in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods reduced their price target on shares of Goosehead Insurance from $72.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.42.

Goosehead Insurance Stock Performance

GSHD stock opened at $48.50 on Thursday. The firm has a 50 day moving average price of $55.18 and a 200-day moving average price of $50.23. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $79.85. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.91 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.47 by $0.17. The business had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts forecast that Goosehead Insurance will post 1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction 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 sale, the insider owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of Goosehead Insurance stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $66.87, for a total transaction of $1,503,304.47. Following the transaction, the insider directly owned 6,767,661 shares of the company’s stock, valued at approximately $452,553,491.07. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders acquired 226,333 shares of company stock valued at $11,816,524 and sold 267,000 shares valued at $18,056,139. 38.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its position in Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after buying an additional 559,087 shares during the period. Janus Henderson Group PLC raised its stake in shares of Goosehead Insurance by 3,485.1% during the first 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 America Corp DE boosted its holdings in shares of Goosehead Insurance by 28.2% in the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock valued at $14,049,000 after purchasing an additional 72,527 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Goosehead Insurance by 23.2% in the first quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after purchasing an additional 41,334 shares during the period. Finally, Sei Investments Co. grew its position in shares of Goosehead Insurance by 9.4% during the 1st quarter. Sei Investments Co. now owns 163,452 shares of the company’s stock worth $6,973,000 after buying an additional 14,051 shares in the last quarter.

About Goosehead Insurance

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.