Goosehead Insurance (NASDAQ:GSHD) Reaches New 1-Year High on Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) shares hit a new 52-week high on Thursday after TD Cowen raised their price target on the stock from $94.00 to $130.00. TD Cowen currently has a hold rating on the stock. Goosehead Insurance traded as high as $124.40 and last traded at $124.40, with a volume of 47071 shares. The stock had previously closed at $120.43.

Several other equities analysts have also recently weighed in on GSHD. JMP Securities raised their price objective on Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada upped their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $84.00 target price (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. Finally, BMO Capital Markets raised their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $97.90.

Insider Buying and Selling at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 8,977 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $82.33, for a total value of $739,076.41. Following the sale, the chairman now directly owns 39,451 shares in the company, valued at $3,248,000.83. This represents a 18.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This trade represents a 66.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,232 shares of company stock valued at $13,425,876. 48.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Goosehead Insurance by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock valued at $160,962,000 after purchasing an additional 46,861 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Goosehead Insurance by 30.4% in the second quarter. Daiwa Securities Group Inc. now owns 35,118 shares of the company’s stock valued at $2,017,000 after acquiring an additional 8,193 shares in the last quarter. Quarry LP lifted its holdings in Goosehead Insurance by 2,810.7% during the second quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after acquiring an additional 787 shares during the period. Dark Forest Capital Management LP purchased a new position in Goosehead Insurance in the second quarter worth $408,000. Finally, Janney Montgomery Scott LLC grew its stake in Goosehead Insurance by 31.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,428 shares of the company’s stock valued at $295,000 after purchasing an additional 1,058 shares during the period.

Goosehead Insurance Stock Performance

The company has a market cap of $4.53 billion, a P/E ratio of 169.70, a price-to-earnings-growth ratio of 4.51 and a beta of 1.32. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The company’s 50-day moving average is $100.48 and its two-hundred day moving average is $80.51.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The firm had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Equities analysts predict that Goosehead Insurance, Inc will post 0.84 EPS for the current year.

Goosehead Insurance Company Profile

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.