Goosehead Insurance (NASDAQ:GSHD) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

Shares of Goosehead Insurance (NASDAQ:GSHD – Get Free Report) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.45.

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Goosehead Insurance in a research report on Thursday, July 23rd. Texas Capital raised Goosehead Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 29th. Royal Bank Of Canada upped their price target on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. UBS Group raised their price target on Goosehead Insurance from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Piper Sandler boosted their price objective on Goosehead Insurance from $52.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th.

Read Our Latest Report on Goosehead Insurance

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $45.51 on Wednesday. The stock has a fifty day simple moving average of $61.29 and a 200-day simple moving average of $49.97. The stock has a market cap of $1.62 billion, a PE ratio of 33.22, a P/E/G ratio of 1.62 and a beta of 1.46. Goosehead Insurance has a twelve month low of $33.68 and a twelve month high of $79.85.

Goosehead Insurance (NASDAQ:GSHD – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.17. The company had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. Goosehead Insurance’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Research analysts predict that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Buying and Selling at Goosehead Insurance

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total transaction of $325,150.00. Following the sale, the insider directly owned 58,530 shares of the company’s stock, valued at $3,806,205.90. This represents a 7.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Durable Capital Partners Lp bought 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the completion of the purchase, the insider owned 2,720,260 shares in the company, valued at $128,722,703.20. This trade represents a 5.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Wasatch Advisors LP boosted its position in shares of Goosehead Insurance by 32.3% during the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after acquiring an additional 559,087 shares in the last quarter. Langdon Equity Partners purchased a new stake in Goosehead Insurance during the fourth quarter worth approximately $41,892,000. Janus Henderson Group PLC lifted its stake in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after purchasing an additional 376,114 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Goosehead Insurance in the second quarter valued at approximately $6,545,000. Finally, 3G Capital Partners LP boosted its holdings in Goosehead Insurance by 80.0% in the fourth quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock valued at $16,571,000 after purchasing an additional 100,000 shares in the last quarter.

Goosehead Insurance Company Profile

(Get Free Report)

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.

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