Goosehead Insurance (NASDAQ:GSHD) Price Target Raised to $120.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective boosted by analysts at BMO Capital Markets from $90.00 to $120.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 0.20% from the stock’s previous close.

A number of other research firms have also recently weighed in on GSHD. TD Cowen cut shares of Goosehead Insurance from a “buy” rating to a “hold” rating and decreased their target price for the stock from $98.00 to $94.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Piper Sandler increased their target price on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, October 28th. UBS Group boosted their price target on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price objective on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Goosehead Insurance presently has a consensus rating of “Hold” and an average target price of $94.30.

Goosehead Insurance Trading Up 1.1 %

Shares of GSHD traded up $1.36 during trading hours on Tuesday, hitting $119.76. 17,476 shares of the stock traded hands, compared to its average volume of 290,064. The business has a fifty day moving average of $98.25 and a 200-day moving average of $79.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. Goosehead Insurance has a 1-year low of $50.47 and a 1-year high of $124.00. The firm has a market capitalization of $4.44 billion, a PE ratio of 166.34, a price-to-earnings-growth ratio of 4.58 and a beta of 1.32.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $80.54 million. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. Goosehead Insurance’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. Analysts expect that Goosehead Insurance will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Patrick Ryan Langston sold 4,814 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $90.26, for a total transaction of $434,511.64. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $451,300. This represents a 49.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $110.22, for a total value of $6,428,801.94. Following the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,262 shares of company stock worth $14,589,805 over the last quarter. Company insiders own 38.03% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Goosehead Insurance during the 3rd quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock worth $31,000 after purchasing an additional 231 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Goosehead Insurance by 567.6% in the third quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after acquiring an additional 403 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Goosehead Insurance during the third quarter worth $60,000.

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.