Goosehead Insurance, Inc (NASDAQ:GSHD) Given Average Recommendation of “Moderate Buy” by Brokerages

Goosehead Insurance, Inc (NASDAQ:GSHD) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $78.89.

A number of brokerages have recently issued reports on GSHD. Keefe, Bruyette & Woods lowered their price target on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. TD Cowen began coverage on shares of Goosehead Insurance in a research note on Wednesday, January 10th. They set an “outperform” rating and a $105.00 target price on the stock. Piper Sandler reduced their target price on shares of Goosehead Insurance from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Goosehead Insurance from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Truist Financial dropped their price objective on shares of Goosehead Insurance from $70.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, April 25th.

Goosehead Insurance Stock Performance

NASDAQ:GSHD opened at $61.01 on Wednesday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market capitalization of $2.32 billion, a PE ratio of 98.40, a P/E/G ratio of 3.13 and a beta of 1.31. Goosehead Insurance has a fifty-two week low of $50.47 and a fifty-two week high of $92.76. The company has a fifty day moving average of $65.87 and a two-hundred day moving average of $71.80.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Goosehead Insurance had a net margin of 5.99% and a return on equity of 202.00%. The firm had revenue of $64.46 million during the quarter, compared to the consensus estimate of $66.24 million. As a group, research analysts forecast that Goosehead Insurance will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark Miller purchased 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $58.06 per share, with a total value of $580,600.00. Following the purchase, the chief operating officer now directly owns 30,000 shares in the company, valued at approximately $1,741,800. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Goosehead Insurance news, major shareholder Desiree Coleman sold 17,070 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $80.15, for a total transaction of $1,368,160.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark Miller purchased 10,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average price of $58.06 per share, with a total value of $580,600.00. Following the completion of the transaction, the chief operating officer now owns 30,000 shares of the company’s stock, valued at $1,741,800. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 17,582 shares of company stock valued at $1,141,849 and have sold 57,341 shares valued at $4,388,214. 38.03% of the stock is owned by insiders.

Institutional Trading of Goosehead Insurance

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new stake in shares of Goosehead Insurance in the third quarter valued at $9,501,000. Vanguard Group Inc. grew its position in Goosehead Insurance by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,332,578 shares of the company’s stock valued at $173,847,000 after acquiring an additional 351,630 shares in the last quarter. Amalgamated Bank increased its stake in Goosehead Insurance by 217.7% during the third quarter. Amalgamated Bank now owns 10,143 shares of the company’s stock worth $756,000 after purchasing an additional 6,950 shares during the period. FMR LLC lifted its position in shares of Goosehead Insurance by 383.3% during the third quarter. FMR LLC now owns 70,292 shares of the company’s stock worth $5,239,000 after purchasing an additional 55,747 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Goosehead Insurance in the third quarter valued at approximately $23,614,000.

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.