Goosehead Insurance (NASDAQ:GSHD) Price Target Raised to $130.00

Goosehead Insurance (NASDAQ:GSHD) had its target price increased by TD Cowen from $94.00 to $130.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

GSHD has been the subject of several other reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. JMP Securities increased their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Piper Sandler upped their price objective on shares of Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.90.

Goosehead Insurance Price Performance

Shares of NASDAQ:GSHD opened at $126.34 on Wednesday. The firm has a 50 day moving average of $101.22 and a 200-day moving average of $81.11. Goosehead Insurance has a 12 month low of $50.47 and a 12 month high of $127.60. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.69 billion, a PE ratio of 175.47, a PEG ratio of 4.70 and a beta of 1.32.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Goosehead Insurance will post 0.84 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total value of $6,428,801.94. Following the sale, the chief executive officer now directly owns 30,000 shares in the company, valued at $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Patrick Ryan Langston sold 4,814 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $90.26, for a total transaction of $434,511.64. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $451,300. This represents a 49.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,232 shares of company stock worth $13,425,876 over the last three months. Company insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

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

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.