Goosehead Insurance (NASDAQ:GSHD) Hits New 52-Week High - Still a Buy?

Goosehead Insurance, Inc (NASDAQ:GSHD - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $111.41 and last traded at $111.02, with a volume of 24174 shares changing hands. The stock had previously closed at $109.71.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JMP Securities upped their target price on Goosehead Insurance from $100.00 to $115.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. Piper Sandler upped their price target on Goosehead Insurance from $103.00 to $122.00 and gave the stock an "overweight" rating in a research report on Monday. Truist Financial increased their price target on Goosehead Insurance from $65.00 to $80.00 and gave the company a "hold" rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Goosehead Insurance currently has an average rating of "Hold" and an average price target of $91.30.

Goosehead Insurance Price Performance

The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 175.81, a PEG ratio of 5.00 and a beta of 1.35. The stock's 50-day moving average price is $90.60 and its 200 day moving average price is $74.25. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 2.31.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last posted its earnings results 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. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. The company had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. During the same period in the previous year, the business posted $0.28 EPS. Goosehead Insurance's revenue was up 9.9% on a year-over-year basis. Equities research analysts expect that Goosehead Insurance, Inc will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $90.09, for a total transaction of $195,225.03. Following the completion of the transaction, the insider now owns 5,000 shares of the company's stock, valued at $450,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 2,167 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $90.09, for a total value of $195,225.03. Following the sale, the insider now owns 5,000 shares of the company's stock, valued at $450,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark Evan Jones sold 10,418 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $85.88, for a total transaction of $894,697.84. Following the transaction, the chairman now owns 39,451 shares of the company's stock, valued at approximately $3,388,051.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,726 shares of company stock worth $10,712,638. Company insiders own 48.35% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Goosehead Insurance by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,416,115 shares of the company's stock worth $160,962,000 after buying an additional 46,861 shares during the period. Sei Investments Co. increased its stake in Goosehead Insurance by 16.4% in the 1st quarter. Sei Investments Co. now owns 123,967 shares of the company's stock valued at $8,259,000 after buying an additional 17,443 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Goosehead Insurance by 30.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,118 shares of the company's stock worth $2,017,000 after acquiring an additional 8,193 shares during the period. Quarry LP lifted its position in Goosehead Insurance by 2,810.7% in the second quarter. Quarry LP now owns 815 shares of the company's stock valued at $47,000 after purchasing an additional 787 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Goosehead Insurance in the 2nd quarter valued at approximately $408,000.

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.