Goosehead Insurance (NASDAQ:GSHD) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Goosehead Insurance (NASDAQ:GSHD) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

GSHD has been the subject of several other research reports. Keefe, Bruyette & Woods cut their price objective on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. UBS Group dropped their price objective on shares of Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Piper Sandler cut their target price on shares of Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Truist Financial dropped their price target on shares of Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Finally, JMP Securities lowered their price objective on Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.00.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded down $0.44 during trading hours on Monday, reaching $69.22. The company’s stock had a trading volume of 34,695 shares, compared to its average volume of 311,253. Goosehead Insurance has a one year low of $64.40 and a one year high of $130.39. The company’s 50 day simple moving average is $73.19 and its 200 day simple moving average is $89.63. The stock has a market cap of $2.55 billion, a P/E ratio of 61.25, a price-to-earnings-growth ratio of 11.28 and a beta of 1.42.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a negative return on equity of 34.60% and a net margin of 8.55%.The company had revenue of $90.27 million for the quarter, compared to the consensus estimate of $94.25 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. Goosehead Insurance’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Activity at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $86.30, for a total transaction of $258,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder & Robyn Jones Descendants Mark sold 21,391 shares of Goosehead Insurance stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $87.60, for a total value of $1,873,851.60. Following the transaction, the insider directly owned 132,349 shares in the company, valued at $11,593,772.40. The trade was a 13.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,991 shares of company stock valued at $2,184,958. 37.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Goosehead Insurance by 480.4% in the second quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock valued at $34,000 after buying an additional 269 shares during the period. TCTC Holdings LLC grew its stake in shares of Goosehead Insurance by 117.1% in the 1st quarter. TCTC Holdings LLC now owns 330 shares of the company’s stock worth $39,000 after acquiring an additional 178 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Goosehead Insurance by 802.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock worth $47,000 after purchasing an additional 393 shares in the last quarter. Larson Financial Group LLC increased its stake in Goosehead Insurance by 1,251.6% in the 1st quarter. Larson Financial Group LLC now owns 419 shares of the company’s stock valued at $49,000 after buying an additional 388 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Goosehead Insurance by 73.8% during the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock worth $50,000 after buying an additional 200 shares in 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.