Royal Bank of Canada Reiterates “Outperform” Rating for Goosehead Insurance (NASDAQ:GSHD)

Royal Bank of Canada reiterated their outperform rating on shares of Goosehead Insurance (NASDAQ:GSHD) in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a $80.00 target price on the stock.

Several other research firms also recently weighed in on GSHD. JMP Securities reissued a market outperform rating and set a $100.00 price target on shares of Goosehead Insurance in a research report on Monday, April 15th. BMO Capital Markets dropped their price target on Goosehead Insurance from $90.00 to $72.00 and set an outperform rating for the company in a research report on Tuesday, April 30th. JPMorgan Chase & Co. dropped their price target on Goosehead Insurance from $62.00 to $59.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Piper Sandler dropped their price target on Goosehead Insurance from $88.00 to $65.00 and set an overweight rating for the company in a research report on Thursday, April 25th. Finally, Bank of America raised their price objective on Goosehead Insurance from $35.00 to $37.00 and gave the stock an underperform rating in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $74.00.

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $57.44 on Friday. Goosehead Insurance has a 1-year low of $50.47 and a 1-year high of $92.76. The company has a market capitalization of $2.18 billion, a P/E ratio of 92.65, a PEG ratio of 3.75 and a beta of 1.45. The business has a 50 day moving average price of $60.08 and a 200 day moving average price of $69.02. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.73 and a quick ratio of 1.73.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. Sell-side analysts expect that Goosehead Insurance will post 0.7 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In other news, COO Mark Miller bought 10,000 shares of Goosehead Insurance stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price of $58.06 per share, for a total transaction of $580,600.00. Following the completion of the acquisition, the chief operating officer now owns 30,000 shares of the company’s stock, valued at $1,741,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 48.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Vanguard Group Inc. lifted 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 lifted its stake in shares of Goosehead Insurance by 17.2% during the first 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 in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Goosehead Insurance by 407.4% during the first quarter. Motley Fool Asset Management LLC now owns 533,500 shares of the company’s stock worth $35,542,000 after purchasing an additional 428,355 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Goosehead Insurance by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 308,090 shares of the company’s stock worth $23,354,000 after purchasing an additional 30,626 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Goosehead Insurance by 14.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 294,977 shares of the company’s stock worth $22,359,000 after purchasing an additional 37,805 shares in the last quarter.

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.