Goosehead Insurance (NASDAQ:GSHD) Reaches New 1-Year High Following Analyst Upgrade

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report)'s stock price reached a new 52-week high on Thursday after JMP Securities raised their price target on the stock from $100.00 to $115.00. JMP Securities currently has a market outperform rating on the stock. Goosehead Insurance traded as high as $100.37 and last traded at $99.99, with a volume of 150558 shares trading hands. The stock had previously closed at $96.03.

A number of other research firms have also recently commented on GSHD. TD Cowen cut Goosehead Insurance from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $98.00 to $94.00 in a research report on Thursday, August 15th. Truist Financial lifted their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Piper Sandler upped their price objective on shares of Goosehead Insurance from $94.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday. Royal Bank of Canada lifted their price objective on Goosehead Insurance from $95.00 to $109.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, BMO Capital Markets downgraded Goosehead Insurance from an "outperform" rating to a "market perform" rating and set a $90.00 target price on the stock. in a research report on Thursday, August 22nd. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $89.40.

Insider Transactions at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 14,030 shares of the company's stock in a transaction on 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 completion of the sale, the chairman now directly owns 39,451 shares of the company's stock, valued at approximately $3,272,854.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $90.26, for a total transaction of $434,511.64. Following the completion of the sale, the insider now owns 5,000 shares in the company, valued at $451,300. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark Evan Jones sold 14,030 shares of Goosehead Insurance stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the completion of the sale, the chairman now owns 39,451 shares of the company's stock, valued at approximately $3,272,854.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,798 shares of company stock valued at $6,310,613 over the last 90 days. Corporate insiders own 48.35% of the company's stock.

Hedge Funds Weigh In On Goosehead Insurance

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Goosehead Insurance by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company's stock worth $106,000 after purchasing an additional 165 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company's stock worth $36,000 after acquiring an additional 210 shares during the last quarter. GAMMA Investing LLC raised its holdings in Goosehead Insurance by 195.8% during the 3rd quarter. GAMMA Investing LLC now owns 349 shares of the company's stock worth $31,000 after buying an additional 231 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Goosehead Insurance by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 21,398 shares of the company's stock valued at $1,426,000 after acquiring an additional 279 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Goosehead Insurance by 7.3% in the first quarter. ProShare Advisors LLC now owns 4,409 shares of the company's stock valued at $294,000 after purchasing an additional 299 shares in the last quarter.

Goosehead Insurance Stock Performance

The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13. The stock has a market capitalization of $4.11 billion, a PE ratio of 171.48, a P/E/G ratio of 4.72 and a beta of 1.35. The firm has a 50 day moving average of $88.10 and a 200-day moving average of $72.51.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The business had revenue of $78.10 million during the quarter, compared to analyst estimates of $74.31 million. During the same period in the previous year, the company earned $0.25 EPS. The firm's revenue was up 12.7% on a year-over-year basis. Research analysts forecast that Goosehead Insurance, Inc will post 0.76 earnings per share for the current year.

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.