Goosehead Insurance (NASDAQ:GSHD) Stock Has Consensus Price Target of $64.42 According to Brokerages

Goosehead Insurance (NASDAQ:GSHD) has been given a consensus rating of “Hold” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.42.

GSHD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft set a $80.00 price objective on Goosehead Insurance in a report on Monday, October 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $76.00 target price on shares of Goosehead Insurance in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Zacks Research downgraded shares of Goosehead Insurance from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of Goosehead Insurance from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st.

Goosehead Insurance Trading Down 4.2%

GSHD stock opened at $48.50 on Friday. The stock has a 50-day moving average price of $55.18 and a two-hundred day moving average price of $50.23. Goosehead Insurance has a 12-month low of $33.68 and a 12-month high of $79.85. The company has a market cap of $1.72 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly 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 firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. Equities analysts forecast that Goosehead Insurance will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling at Goosehead Insurance

In other news, major shareholder Adrienne Kebodeaux sold 7,000 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $70.00, for a total value of $490,000.00. Following the completion of the sale, the insider owned 273,027 shares of the company’s stock, valued at $19,111,890. This represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was acquired at an average cost of $47.32 per share, with a total value of $7,098,000.00. Following the transaction, the insider directly owned 2,720,260 shares of the company’s stock, valued at approximately $128,722,703.20. This represents a 5.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 226,333 shares of company stock valued at $11,816,524 and have sold 267,000 shares valued at $18,056,139. 38.07% of the stock is owned by company insiders.

Institutional Trading of Goosehead Insurance

Several large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in Goosehead Insurance by 32.3% in the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock valued at $97,786,000 after purchasing an additional 559,087 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after purchasing an additional 376,114 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Goosehead Insurance by 28.2% in the first quarter. Bank of America Corp DE now owns 329,333 shares of the company’s stock worth $14,049,000 after buying an additional 72,527 shares during the period. Principal Financial Group Inc. grew its stake in shares of Goosehead Insurance by 23.2% in the first quarter. Principal Financial Group Inc. now owns 219,745 shares of the company’s stock valued at $9,374,000 after buying an additional 41,334 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Goosehead Insurance by 9.4% during the 1st quarter. Sei Investments Co. now owns 163,452 shares of the company’s stock valued at $6,973,000 after buying an additional 14,051 shares during the period.

About Goosehead Insurance

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.