Goosehead Insurance (NASDAQ:GSHD) Stock Has Average Price Target of $68.45

Shares of Goosehead Insurance (NASDAQ:GSHD) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $68.45.

A number of research firms have commented on GSHD. Keefe, Bruyette & Woods cut their target price on shares of Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings cut shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Texas Capital raised shares of Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Piper Sandler increased their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd.

Goosehead Insurance Trading Down 3.5%

GSHD opened at $45.51 on Wednesday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.68 and a beta of 1.46. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $79.85. The business’s fifty day simple moving average is $61.29 and its 200-day simple moving average is $49.93.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The firm had revenue of $95.63 million during the quarter, compared to the consensus estimate of $103.30 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. On average, equities research analysts predict that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total transaction of $490,000.00. Following the sale, the insider owned 273,027 shares of the company’s stock, valued at approximately $19,111,890. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 22,481 shares of Goosehead Insurance stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $66.87, for a total value of $1,503,304.47. Following the completion of the transaction, the insider owned 6,767,661 shares in the company, valued at $452,553,491.07. This represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 339,979 shares of company stock worth $18,446,632 and sold 267,000 shares worth $18,056,139. 38.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Goosehead Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its holdings in Goosehead Insurance by 32.3% in the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after purchasing an additional 559,087 shares in the last quarter. Langdon Equity Partners bought a new stake in shares of Goosehead Insurance in the 4th quarter valued at about $41,892,000. Akre Capital Management LLC grew its position in shares of Goosehead Insurance by 1.4% in the 4th quarter. Akre Capital Management LLC now owns 371,096 shares of the company’s stock worth $27,331,000 after buying an additional 4,971 shares during the last quarter. 3G Capital Partners LP grew its position in shares of Goosehead Insurance by 80.0% in the 4th quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock worth $16,571,000 after buying an additional 100,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after buying an additional 376,114 shares during the last quarter.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency and distribution company that helps individuals and businesses shop for insurance coverage from a broad network of insurance carriers. The company uses a technology-enabled platform to provide quoting, policy management and customer service through its corporate operations and franchise network.

Goosehead offers a range of personal and commercial insurance products, including homeowners, automobile, renters, flood, umbrella and life insurance, along with coverage designed for small businesses and other commercial customers.