Piper Sandler lowered the firm's price target on Sysco to $79 from $83 and keeps a Neutral rating on the shares following Q3 results. On a day that was filled with negative industry traffic commentary from several large restaurant chains, Sysco for its part reported organic case volume results that were below consensus, the firm notes. To management's credit, gross margins were very good and in addition, the team has found additional cost out savings to protect the P&L, Piper adds. As a result, Sysco was able to reaffirm its Fiscal 2024 adjusted EPS guidance range of $4.20 to $4.40.

Reports February and March foot traffic down low single digits. Says had expected a stronger recovery throughout the quarter.

BMO Capital lowered the firm's price target on Goosehead Insurance to $72 from $90 but keeps an Outperform rating on the shares after its Q1 results last week. The company's growth metrics continued to trend in the wrong direction, which is largely attributable to insurers' being unwilling to open up their growth budgets until they see a light at the end of the profit margin tunnel, the analyst tells investors in a research note. BMO adds however that Goosehead management's recent pivot to the higher long-term profit margin franchise model will accelerate in coming years, and the firm believes that the company's business model can scale margins beyond 25% in the coming decade.

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