Texas Capital Upgrades Goosehead Insurance (NASDAQ:GSHD) to “Strong-Buy”

Goosehead Insurance (NASDAQ:GSHD) was upgraded by research analysts at Texas Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their target price on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price objective on Goosehead Insurance from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, September 18th. UBS Group lifted their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods cut their price target on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.45.

Goosehead Insurance Stock Down 0.9%

Shares of NASDAQ GSHD opened at $43.99 on Tuesday. The stock’s 50 day moving average price is $61.81 and its two-hundred day moving average price is $49.93. Goosehead Insurance has a 52-week low of $33.68 and a 52-week high of $79.85. The stock has a market capitalization of $1.56 billion, a P/E ratio of 32.11, a PEG ratio of 1.58 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Wednesday, July 22nd. The company reported $0.64 EPS 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 negative return on equity of 21.00% and a net margin of 8.78%.The business’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, analysts anticipate that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Activity at Goosehead Insurance

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the firm’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 transaction, the insider owned 58,530 shares in the company, valued at $3,806,205.90. This trade represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Durable Capital Partners Lp bought 150,000 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was purchased at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the transaction, the insider directly owned 2,720,260 shares of the company’s stock, 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 quarter, insiders have purchased 339,979 shares of company stock valued at $18,446,632 and have sold 267,000 shares valued at $18,056,139. 38.07% of the stock is owned by corporate insiders.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in Goosehead Insurance during the second quarter worth about $48,000. Baird Financial Group Inc. grew its stake in shares of Goosehead Insurance by 15.6% in the 2nd quarter. Baird Financial Group Inc. now owns 7,541 shares of the company’s stock worth $366,000 after purchasing an additional 1,016 shares during the last quarter. Nykredit A S acquired a new stake in Goosehead Insurance during the second quarter valued at approximately $50,000. Corient Private Wealth LP boosted its holdings in Goosehead Insurance by 123.7% during the second quarter. Corient Private Wealth LP now owns 56,935 shares of the company’s stock worth $2,761,000 after buying an additional 31,483 shares in the last quarter. Finally, Compass Financial Management LLC acquired a new position in Goosehead Insurance in the second quarter worth approximately $192,000.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.