Goosehead Insurance (NASDAQ:GSHD) Given Average Recommendation of “Hold” by Analysts

Goosehead Insurance (NASDAQ:GSHD) has received an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $68.4545.

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on shares of Goosehead Insurance from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. Piper Sandler upped their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, UBS Group raised their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 27th.

Goosehead Insurance Price Performance

Shares of Goosehead Insurance stock opened at $64.40 on Tuesday. The business has a 50-day simple moving average of $53.27 and a 200 day simple moving average of $48.36. Goosehead Insurance has a one year low of $33.68 and a one year high of $90.16. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 47.01, a PEG ratio of 2.37 and a beta of 1.38.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 business had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts expect that Goosehead Insurance will post 1.45 EPS for the current year.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston bought 2,800 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $35.56 per share, for a total transaction of $99,568.00. Following the acquisition, the insider directly owned 7,800 shares of the company’s stock, valued at approximately $277,368. The trade was a 56.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Durable Capital Partners Lp purchased 36,256 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $61.92 per share, for a total transaction of $2,244,971.52. Following the transaction, the insider owned 2,570,260 shares in the company, valued at $159,150,499.20. This represents a 1.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 197,779 shares of company stock valued at $11,621,850 and sold 468,616 shares valued at $26,163,838. Insiders own 38.07% of the company’s stock.

Institutional Trading of Goosehead Insurance

Several institutional investors and hedge funds have recently modified their holdings of GSHD. Durable Capital Partners LP boosted its position in shares of Goosehead Insurance by 126.5% during the third quarter. Durable Capital Partners LP now owns 1,542,186 shares of the company’s stock valued at $114,769,000 after buying an additional 861,374 shares during the last quarter. Wasatch Advisors LP raised its position in Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after buying an additional 559,087 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Goosehead Insurance by 38.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock valued at $147,448,000 after buying an additional 556,293 shares during the last quarter. Langdon Equity Partners bought a new position in Goosehead Insurance during the 4th quarter valued at $41,892,000. Finally, Janus Henderson Group PLC lifted its stake in Goosehead Insurance by 3,485.1% during the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock valued at $16,506,000 after acquiring an additional 376,114 shares in the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.