Goosehead Insurance, Inc (NASDAQ:GSHD) Receives $74.00 Consensus Price Target from Brokerages

Goosehead Insurance, Inc (NASDAQ:GSHD) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $74.00.

GSHD has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on shares of Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets cut their price objective on shares of Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Bank of America boosted their price objective on shares of Goosehead Insurance from $35.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, June 11th. TD Cowen cut their price objective on shares of Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, Truist Financial cut their price target on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th.

Insider Activity

In other news, COO Mark Miller bought 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $58.06 per share, with a total value of $580,600.00. Following the acquisition, the chief operating officer now owns 30,000 shares in the company, valued at $1,741,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Formulas raised its holdings in shares of Goosehead Insurance by 5,350.0% in the 4th quarter. USA Financial Formulas now owns 327 shares of the company’s stock valued at $25,000 after purchasing an additional 321 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Goosehead Insurance in the 4th quarter valued at about $35,000. Benjamin F. Edwards & Company Inc. acquired a new position in Goosehead Insurance in the 1st quarter valued at about $35,000. CENTRAL TRUST Co acquired a new position in Goosehead Insurance in the 1st quarter valued at about $67,000. Finally, PNC Financial Services Group Inc. grew its stake in Goosehead Insurance by 18.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,229 shares of the company’s stock valued at $92,000 after buying an additional 195 shares during the last quarter.

Goosehead Insurance Price Performance

Shares of GSHD stock opened at $57.44 on Thursday. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 92.65, a price-to-earnings-growth ratio of 3.75 and a beta of 1.45. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.31. The firm has a fifty day moving average of $60.08 and a 200-day moving average of $68.98.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $64.46 million during the quarter, compared to analyst estimates of $66.24 million. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. On average, equities research analysts forecast that Goosehead Insurance will post 0.7 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.