Goosehead Insurance (NASDAQ:GSHD) Hits New 1-Year High After Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD) shares hit a new 52-week high during trading on Thursday after TD Cowen raised their price target on the stock from $94.00 to $130.00. TD Cowen currently has a hold rating on the stock. Goosehead Insurance traded as high as $124.40 and last traded at $124.40, with a volume of 47071 shares traded. The stock had previously closed at $120.43.

GSHD has been the topic of several other reports. JMP Securities raised their price objective on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 price target (down previously from $85.00) on shares of Goosehead Insurance in a report on Friday, July 26th. Piper Sandler upped their price objective on Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Truist Financial boosted their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, UBS Group increased their price objective on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $97.90.

Insiders Place Their Bets

In other Goosehead Insurance news, CEO Mark Miller sold 58,327 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $3,306,600. This trade represents a 66.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark Evan Jones sold 8,977 shares of Goosehead Insurance stock in a transaction that occurred on 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 owns 39,451 shares of the company’s stock, valued at approximately $3,248,000.83. The trade was a 18.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,232 shares of company stock valued at $13,425,876. Insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Several hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Goosehead Insurance during the 3rd quarter worth approximately $29,000. GAMMA Investing LLC increased its holdings in Goosehead Insurance by 195.8% in the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after acquiring an additional 231 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock worth $36,000 after buying an additional 210 shares during the last quarter. Blue Trust Inc. raised its position in shares of Goosehead Insurance by 567.6% in the third 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 last quarter. Finally, Quarry LP lifted its stake in Goosehead Insurance by 2,810.7% in the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after purchasing an additional 787 shares in the last quarter.

Goosehead Insurance Stock Up 1.5 %

The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The business has a 50 day simple moving average of $100.48 and a 200-day simple moving average of $80.51. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 169.70, a P/E/G ratio of 4.51 and a beta of 1.32.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $80.54 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. Goosehead Insurance’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. On average, equities analysts expect that Goosehead Insurance, Inc will post 0.84 EPS for the current year.

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.