TD Cowen Issues Positive Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price target upped by TD Cowen from $94.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other brokerages have also recently issued reports on GSHD. Royal Bank of Canada raised their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their target price on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday. Truist Financial raised their target price on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. UBS Group raised their target price on Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JMP Securities raised their target price on Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.90.

Goosehead Insurance Stock Performance

Goosehead Insurance stock opened at $120.43 on Wednesday. The stock has a market cap of $4.47 billion, a P/E ratio of 167.27, a price-to-earnings-growth ratio of 4.58 and a beta of 1.32. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. The stock has a 50 day moving average of $99.74 and a 200-day moving average of $80.22. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $124.00.

Goosehead Insurance (NASDAQ:GSHD) last announced 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. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The firm had revenue of $78.04 million for the quarter, compared to analysts’ expectations of $80.54 million. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that Goosehead Insurance will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Miller sold 58,327 shares of Goosehead Insurance stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $3,306,600. The trade was a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of Goosehead Insurance stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $100.21, for a total value of $4,402,024.88. The disclosure for this sale can be found here. Insiders have sold a total of 131,232 shares of company stock valued at $13,425,876 over the last three months. Company insiders own 38.03% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its stake 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 purchasing an additional 210 shares in the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 231 shares in the last quarter. HighTower Advisors LLC increased its stake in Goosehead Insurance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock worth $448,000 after purchasing an additional 276 shares in the last quarter. ProShare Advisors LLC increased its stake in Goosehead Insurance by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 4,409 shares of the company’s stock worth $294,000 after purchasing an additional 299 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Goosehead Insurance in the 3rd quarter worth about $29,000.

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.