Goosehead Insurance (NASDAQ:GSHD) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold” for Goosehead Insurance, with one sell, six hold, and seven buy ratings among 14 brokerages. The average 12-month price target is $68.45, with recent targets ranging from $60 to $76.
• Goosehead reported quarterly EPS of $0.64, beating expectations of $0.47, while revenue of $95.63 million fell short of the $103.30 million consensus estimate. Revenue nevertheless increased 20.6% year over year.
• The stock opened at $65.21, with a market capitalization of approximately $2.32 billion and a 52-week range of $33.68 to $85.53. Insider activity was mixed, while institutional investors including California State Teachers Retirement System significantly increased their positions.

Shares of Goosehead Insurance (NASDAQ:GSHD - Get Free Report) have received an average rating of "Hold" from the fourteen research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $68.4545.

A number of equities analysts have issued reports on GSHD shares. UBS Group lifted their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $76.00 target price on shares of Goosehead Insurance in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods decreased their price objective on shares of Goosehead Insurance from $80.00 to $72.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Goosehead Insurance from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st.

Goosehead Insurance Stock Performance

GSHD stock opened at $65.21 on Friday. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $85.53. The stock's 50 day simple moving average is $61.85 and its 200 day simple moving average is $49.50. The company has a market cap of $2.32 billion, a P/E ratio of 47.60, a price-to-earnings-growth ratio of 2.39 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.17. The firm had revenue of $95.63 million for the quarter, compared to the consensus estimate of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The business's revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities analysts predict that Goosehead Insurance will post 1.46 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total transaction of $325,150.00. Following the sale, the insider owned 58,530 shares of the company's stock, valued at approximately $3,806,205.90. This represents a 7.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Durable Capital Partners Lp acquired 36,256 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $61.92 per share, for a total transaction of $2,244,971.52. Following the transaction, the insider directly owned 2,570,260 shares of the company's stock, valued at $159,150,499.20. This represents a 1.43% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 189,979 shares of company stock valued at $11,348,632 and have sold 267,000 shares valued at $18,056,139. Company insiders own 38.07% of the company's stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP raised its holdings in shares of Goosehead Insurance by 123.7% during the 2nd quarter. Corient Private Wealth LP now owns 56,935 shares of the company's stock valued at $2,761,000 after buying an additional 31,483 shares in the last quarter. California State Teachers Retirement System grew its position in Goosehead Insurance by 3,350.6% during the second quarter. California State Teachers Retirement System now owns 1,219,824 shares of the company's stock valued at $59,161,000 after acquiring an additional 1,184,473 shares during the last quarter. Compass Financial Management LLC purchased a new position in shares of Goosehead Insurance during the second quarter worth approximately $192,000. Nykredit A S bought a new stake in shares of Goosehead Insurance in the 2nd quarter worth approximately $50,000. Finally, B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Goosehead Insurance by 8.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 18,742 shares of the company's stock worth $909,000 after acquiring an additional 1,388 shares during the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance NASDAQ: GSHD is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.

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