JPMorgan Chase & Co. Issues Positive Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its target price boosted by JPMorgan Chase & Co. from $77.00 to $90.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

GSHD has been the subject of a number of other reports. Truist Financial boosted their price objective on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. BMO Capital Markets boosted their price objective on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada upped their price target on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JMP Securities upped their price target on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Finally, TD Cowen upped their price target on Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.20.

Goosehead Insurance Price Performance

NASDAQ GSHD opened at $106.81 on Friday. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $130.39. The firm has a market capitalization of $3.96 billion, a P/E ratio of 148.35, a PEG ratio of 4.44 and a beta of 1.38. 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 has a 50-day moving average price of $114.87 and a 200-day moving average price of $92.06.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The firm’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 EPS. Equities research analysts anticipate that Goosehead Insurance will post 0.84 earnings per share for the current year.

Insider Activity

In other news, CEO Mark Miller sold 58,327 shares of the 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 directly owns 30,000 shares in the company, valued at approximately $3,306,600. This represents a 66.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $100.21, for a total value of $4,402,024.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,255 shares of company stock worth $11,784,327. 48.35% of the stock is currently owned by insiders.

Institutional Trading of Goosehead Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Goosehead Insurance during the 3rd quarter valued at $29,000. GAMMA Investing LLC raised its holdings in Goosehead Insurance by 195.8% during the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock valued at $31,000 after buying an additional 231 shares during the period. Blue Trust Inc. raised its holdings in Goosehead Insurance by 567.6% during the 3rd quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after buying an additional 403 shares during the period. Cullen Frost Bankers Inc. raised its holdings in Goosehead Insurance by 49.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after buying an additional 210 shares during the period. Finally, Financial Management Professionals Inc. purchased a new stake in Goosehead Insurance during the 3rd quarter valued at $60,000.

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.