Goosehead Insurance (NASDAQ:GSHD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Goosehead Insurance (NASDAQ:GSHD) had its target price upped by BMO Capital Markets from $90.00 to $120.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

GSHD has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Piper Sandler upped their price objective on shares of Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Truist Financial upped their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. UBS Group increased their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.90.

Goosehead Insurance Stock Performance

GSHD opened at $126.34 on Tuesday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a fifty day moving average price of $100.48 and a 200 day moving average price of $80.51. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $127.60. The stock has a market cap of $4.69 billion, a P/E ratio of 175.47, a P/E/G ratio of 4.51 and a beta of 1.32.

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

Insider Activity at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the completion of the sale, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $450,450. This represents a 30.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,232 shares of company stock valued at $13,425,876. 48.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. boosted its stake in Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock worth $36,000 after buying an additional 210 shares during the period. GAMMA Investing LLC boosted its stake in Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after buying an additional 231 shares during the period. HighTower Advisors LLC boosted its stake in Goosehead Insurance by 5.8% during the third quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock worth $448,000 after buying an additional 276 shares during the period. ProShare Advisors LLC boosted its stake in Goosehead Insurance by 7.3% during the first quarter. ProShare Advisors LLC now owns 4,409 shares of the company’s stock worth $294,000 after buying an additional 299 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Goosehead Insurance during the third quarter worth about $29,000.

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.