Goosehead Insurance (NASDAQ:GSHD) Stock Rating Reaffirmed by JMP Securities

Goosehead Insurance (NASDAQ:GSHD)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports. They currently have a $100.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 0.60% from the stock’s current price.

Other research analysts have also issued research reports about the stock. TD Cowen lowered shares of Goosehead Insurance from a “buy” rating to a “hold” rating and lowered their price objective for the company from $98.00 to $94.00 in a research note on Thursday, August 15th. BMO Capital Markets lowered shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a research note on Thursday, August 22nd. Piper Sandler raised their price target on shares of Goosehead Insurance from $72.00 to $94.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial raised their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $84.00 target price (down previously from $85.00) on shares of Goosehead Insurance in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and an average price target of $84.10.

Goosehead Insurance Stock Performance

NASDAQ:GSHD opened at $99.40 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. The firm has a 50-day moving average of $86.84 and a two-hundred day moving average of $71.37. The stock has a market cap of $3.78 billion, a P/E ratio of 160.32, a PEG ratio of 4.72 and a beta of 1.35. Goosehead Insurance has a 1-year low of $50.47 and a 1-year high of $100.15.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $74.31 million. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 earnings per share. On average, research analysts expect that Goosehead Insurance will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $90.09, for a total transaction of $195,225.03. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $450,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Patrick Ryan Langston sold 2,167 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $90.09, for a total value of $195,225.03. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at $450,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark Evan Jones sold 11,699 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $85.75, for a total transaction of $1,003,189.25. Following the completion of the transaction, the chairman now owns 39,451 shares in the company, valued at $3,382,923.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,798 shares of company stock valued at $6,310,613. 48.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Goosehead Insurance

Several large investors have recently made changes to their positions in GSHD. Goldman Sachs Group Inc. grew its position in Goosehead Insurance by 14.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock valued at $22,359,000 after purchasing an additional 37,805 shares in the last quarter. Vanguard Group Inc. increased its holdings in Goosehead Insurance by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after buying an additional 36,676 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Goosehead Insurance by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock valued at $106,000 after purchasing an additional 165 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Goosehead Insurance by 20.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,607 shares of the company’s stock valued at $107,000 after purchasing an additional 277 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in Goosehead Insurance by 17.2% during the 1st quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock worth $140,025,000 after acquiring an additional 308,312 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc operates as a holding company for Goosehead Financial, LLC that engages in the provision of personal lines insurance agency services in the United States. The company offers homeowner’s, automotive, dwelling property, flood, wind, earthquake, excess liability or umbrella, motorcycle, recreational vehicle, general liability, property, and life insurance products and services.