Goosehead Insurance (NASDAQ:GSHD) Stock Price Expected to Rise, TD Cowen Analyst Says

Goosehead Insurance (NASDAQ:GSHD) had its price objective hoisted by TD Cowen from $94.00 to $130.00 in a research report released on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada raised their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. UBS Group upped their price objective on Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Piper Sandler upped their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.90.

Goosehead Insurance Trading Up 3.4 %

NASDAQ:GSHD opened at $126.34 on Wednesday. The company has a market cap of $4.69 billion, a P/E ratio of 175.47, a price-to-earnings-growth ratio of 4.70 and a beta of 1.32. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $127.60. The business has a 50 day moving average price of $101.22 and a two-hundred day moving average price of $81.11. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $78.04 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.28 earnings per share. As a group, analysts expect that Goosehead Insurance will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 8,977 shares of Goosehead Insurance stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $82.33, for a total transaction of $739,076.41. Following the completion of the sale, the chairman now directly owns 39,451 shares of the company’s stock, valued at approximately $3,248,000.83. This trade represents a 18.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $90.26, for a total value of $434,511.64. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $451,300. This represents a 49.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,232 shares of company stock worth $13,425,876 over the last ninety days. Insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its position 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 acquiring an additional 210 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 231 shares during the period. HighTower Advisors LLC raised its position in shares of Goosehead Insurance by 5.8% in the third quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock valued at $448,000 after buying an additional 276 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Goosehead Insurance by 7.3% in the first quarter. ProShare Advisors LLC now owns 4,409 shares of the company’s stock valued at $294,000 after buying an additional 299 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Goosehead Insurance in the third quarter valued at approximately $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.