Goosehead Insurance (NASDAQ:GSHD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Goosehead Insurance (NASDAQ:GSHD) had its price target upped by research analysts at BMO Capital Markets from $90.00 to $120.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 0.20% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $84.00 target price (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. UBS Group boosted their price objective on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JMP Securities upped their price objective on Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen cut 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Goosehead Insurance presently has an average rating of “Hold” and a consensus target price of $94.30.

Goosehead Insurance Price Performance

GSHD stock traded up $1.36 during midday trading on Tuesday, hitting $119.76. 17,476 shares of the stock were exchanged, compared to its average volume of 290,064. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 166.34, a PEG ratio of 4.58 and a beta of 1.32. Goosehead Insurance has a fifty-two week low of $50.47 and a fifty-two week high of $124.00. The stock’s 50-day moving average price is $98.25 and its 200-day moving average price is $79.52. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55.

Goosehead Insurance (NASDAQ:GSHD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Goosehead Insurance had a return on equity of 284.41% and a net margin of 6.77%. The business had revenue of $78.04 million for the quarter, compared to analysts’ expectations of $80.54 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Research analysts predict that Goosehead Insurance will post 0.84 earnings per share for the current year.

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 4,814 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $90.26, for a total value of $434,511.64. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $451,300. This trade represents a 49.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark Evan Jones sold 14,030 shares of Goosehead Insurance stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the sale, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,272,854.96. This represents a 26.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,262 shares of company stock worth $14,589,805 in the last 90 days. 38.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in Goosehead Insurance by 34.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock worth $196,956,000 after acquiring an additional 879,959 shares during the last quarter. State Street Corp grew its position in shares of Goosehead Insurance by 21.2% during the 3rd quarter. State Street Corp now owns 1,059,298 shares of the company’s stock valued at $94,595,000 after buying an additional 185,037 shares during the last quarter. Wasatch Advisors LP lifted its position in Goosehead Insurance by 5.6% in the 3rd quarter. Wasatch Advisors LP now owns 2,618,945 shares of the company’s stock valued at $233,872,000 after purchasing an additional 138,571 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Goosehead Insurance by 35.7% in the 2nd quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock worth $24,179,000 after acquiring an additional 110,832 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Goosehead Insurance by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 393,093 shares of the company’s stock valued at $22,580,000 after buying an additional 51,023 shares during the period.

Goosehead Insurance Company Profile

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.