Goosehead Insurance (NASDAQ:GSHD) Sets New 12-Month High After Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) reached a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $95.00 to $109.00. Royal Bank of Canada currently has an outperform rating on the stock. Goosehead Insurance traded as high as $100.37 and last traded at $99.99, with a volume of 150558 shares. The stock had previously closed at $96.03.

Several other research analysts have also issued reports on GSHD. JMP Securities reaffirmed a “market outperform” rating and set a $100.00 target price on shares of Goosehead Insurance in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $84.00 target price (down from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. BMO Capital Markets lowered shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 price target on the stock. in a research note on Thursday, August 22nd. Truist Financial lifted their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Piper Sandler upped their target price on Goosehead Insurance from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday. One investment 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, the company presently has an average rating of “Hold” and an average target price of $87.90.

Insider Buying and Selling at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 7,674 shares of Goosehead Insurance stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.19, for a total transaction of $653,748.06. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at approximately $425,950. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Mark Evan Jones sold 8,977 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $82.33, for a total transaction of $739,076.41. Following the sale, the chairman now directly owns 39,451 shares of the company’s stock, valued at $3,248,000.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of Goosehead Insurance stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $425,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,798 shares of company stock valued at $6,310,613. 48.35% of the stock is owned by insiders.

Institutional Trading of Goosehead Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Goosehead Insurance by 34.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock valued at $196,956,000 after acquiring an additional 879,959 shares during the period. Vanguard Group Inc. increased its stake in shares of Goosehead Insurance by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company’s stock worth $160,962,000 after purchasing an additional 46,861 shares in the last quarter. Wasatch Advisors LP raised its position in shares of 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 purchasing an additional 308,312 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in Goosehead Insurance by 407.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 533,500 shares of the company’s stock valued at $35,542,000 after buying an additional 428,355 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Goosehead Insurance by 35.7% in the 2nd quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock worth $24,179,000 after buying an additional 110,832 shares during the last quarter.

Goosehead Insurance Trading Up 9.6 %

The company has a 50 day simple moving average of $88.10 and a 200 day simple moving average of $72.51. The company has a market capitalization of $4.00 billion, a PE ratio of 162.74, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13.

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. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The firm had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $74.31 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts anticipate that Goosehead Insurance, Inc will post 0.76 earnings per share for the current year.

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.