Goosehead Insurance (NASDAQ:GSHD) Sets New 1-Year High on Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price hit a new 52-week high during mid-day 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. The stock had previously closed at $120.43.

Other equities research analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. Piper Sandler raised their target price on Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada increased their price target on shares of Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.90.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $90.09, for a total value of $195,225.03. Following the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $450,450. The trade was a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Miller sold 58,327 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the sale, the chief executive officer now owns 30,000 shares of the company’s stock, valued at $3,306,600. This trade represents a 66.04 % decrease in their position. 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 in the last ninety days. 48.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Goosehead Insurance during the 3rd quarter valued at about $29,000. GAMMA Investing LLC lifted its position 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 buying an additional 231 shares in the last quarter. Blue Trust Inc. grew its stake in 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 purchasing an additional 403 shares in the last quarter. Cullen Frost Bankers Inc. increased its position 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 during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Goosehead Insurance during the 3rd quarter worth about $60,000.

Goosehead Insurance Trading Up 2.3 %

The company has a fifty day moving average price of $99.74 and a 200-day moving average price of $80.22. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 167.27, a price-to-earnings-growth ratio of 4.51 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.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share 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 business had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Goosehead Insurance, Inc will post 0.84 EPS 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.