JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Goosehead Insurance (NASDAQ:GSHD) Stock

Goosehead Insurance (NASDAQ:GSHD) had its price target raised by investment analysts at JPMorgan Chase & Co. from $77.00 to $90.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 15.74% from the stock’s current price.

GSHD has been the subject of a number of other reports. Royal Bank of Canada increased their target price on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Truist Financial upped their target price on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, October 4th. TD Cowen lifted their price target on Goosehead Insurance from $94.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Finally, JMP Securities increased 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 note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $99.20.

Goosehead Insurance Stock Up 1.5 %

GSHD opened at $106.81 on Friday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.55 and a quick ratio of 1.55. Goosehead Insurance has a 12 month low of $50.47 and a 12 month high of $130.39. The stock has a market capitalization of $3.96 billion, a P/E ratio of 148.35, a P/E/G ratio of 4.44 and a beta of 1.38. The business has a 50 day simple moving average of $114.87 and a 200-day simple moving average of $92.30.

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

Insider Transactions at Goosehead Insurance

In other news, CEO Mark Miller sold 58,327 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This trade represents a 66.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Adrienne Kebodeaux sold 43,928 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were 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 sold a total of 112,255 shares of company stock worth $11,784,327 over the last ninety days. 48.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Goosehead Insurance

A number of hedge funds have recently added to or reduced their stakes in GSHD. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Goosehead Insurance during the 3rd quarter worth about $29,000. GAMMA Investing LLC raised its stake in 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. Cullen Frost Bankers Inc. boosted its holdings in shares of Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Goosehead Insurance by 567.6% during the 3rd 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 period. Finally, Quarry LP increased its holdings in shares of Goosehead Insurance by 2,810.7% during the 2nd quarter. Quarry LP now owns 815 shares of the company’s stock worth $47,000 after buying an additional 787 shares during the last quarter.

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.