Zacks Investment Research Downgrades Goosehead Insurance (NASDAQ:GSHD) to Hold

Zacks Investment Research cut shares of Goosehead Insurance (NASDAQ:GSHD) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Goosehead Insurance Inc. operates as an insurance agency. Its product portfolio includes homeowner’s insurance; auto insurance; other personal lines products including flood, wind and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance, commercial lines insurance and life insurance. Goosehead Insurance Inc. is based in Texas, United States. “

A number of other analysts have also recently weighed in on the stock. ValuEngine raised shares of Goosehead Insurance from a sell rating to a hold rating in a report on Friday, November 1st. JPMorgan Chase & Co. set a $60.00 price objective on shares of Goosehead Insurance and gave the stock a buy rating in a report on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Goosehead Insurance from $38.00 to $40.00 and gave the stock a market perform rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $52.00.

GSHD stock traded down $0.34 during midday trading on Wednesday, hitting $42.96. The company’s stock had a trading volume of 324,800 shares, compared to its average volume of 177,866. Goosehead Insurance has a 52-week low of $20.49 and a 52-week high of $51.98. The firm has a market capitalization of $645.87 million, a P/E ratio of 214.80, a PEG ratio of 2.44 and a beta of 0.32. The firm has a 50-day simple moving average of $47.19 and a 200-day simple moving average of $42.97.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Goosehead Insurance had a net margin of 5.69% and a negative return on equity of 15.46%. The company had revenue of $21.17 million for the quarter, compared to the consensus estimate of $21.57 million. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. On average, research analysts expect that Goosehead Insurance will post 0.34 earnings per share for the current year.

In other Goosehead Insurance news, COO Jeffrey E. Williams sold 67,554 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $219.04, for a total transaction of $14,797,028.16. Also, major shareholder & Robyn Jones Descendants Mark sold 149,564 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $42.71, for a total transaction of $6,387,878.44. In the last ninety days, insiders sold 410,800 shares of company stock worth $29,916,999. Corporate insiders own 67.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC increased its stake in Goosehead Insurance by 387.0% during the 3rd quarter. GW&K Investment Management LLC now owns 276,469 shares of the company’s stock valued at $13,644,000 after buying an additional 219,702 shares during the period. First Trust Advisors LP increased its stake in Goosehead Insurance by 43.2% during the 3rd quarter. First Trust Advisors LP now owns 41,963 shares of the company’s stock valued at $2,071,000 after buying an additional 12,650 shares during the period. First Mercantile Trust Co. increased its stake in Goosehead Insurance by 514.3% during the 3rd quarter. First Mercantile Trust Co. now owns 4,300 shares of the company’s stock valued at $212,000 after buying an additional 3,600 shares during the period. Picton Mahoney Asset Management acquired a new position in Goosehead Insurance during the 3rd quarter valued at about $7,911,000. Finally, Russell Investments Group Ltd. increased its stake in Goosehead Insurance by 19.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 108,493 shares of the company’s stock valued at $5,353,000 after buying an additional 17,700 shares during the period. 84.17% of the stock is currently owned by hedge funds and other institutional investors.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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