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

Key Points

• Analyst consensus is “Hold”: Fourteen brokerages covering Goosehead Insurance include seven buys, six holds and one sell, with an average 12-month price target of $68.45.
• Quarterly results were mixed: The company reported EPS of $0.64, beating the $0.47 estimate, while revenue of $95.63 million fell short of the $103.30 million consensus. Revenue nevertheless increased 20.6% year over year.
• Shares showed significant volatility: GSHD opened at $43.99, compared with a 52-week range of $33.68 to $79.85; insiders have recently both bought and sold shares, while insiders collectively own 38.07% of the company.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) has earned an average rating of "Hold" from the fourteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $68.45.

Several equities research analysts have recently weighed in on GSHD shares. Weiss Ratings downgraded shares of Goosehead Insurance from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, September 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $76.00 price target on shares of Goosehead Insurance in a research note on Thursday, July 23rd. UBS Group upped their price target on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, July 27th. Royal Bank Of Canada increased their price objective on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 23rd. Finally, Piper Sandler raised their price objective on shares of Goosehead Insurance from $52.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th.

Goosehead Insurance Stock Performance

NASDAQ GSHD opened at $43.99 on Wednesday. The business's 50 day moving average price is $61.81 and its 200-day moving average price is $49.93. Goosehead Insurance has a fifty-two week low of $33.68 and a fifty-two week high of $79.85. The company has a market cap of $1.56 billion, a P/E ratio of 32.11, a P/E/G ratio of 1.58 and a beta of 1.36.

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

Insiders Place Their Bets

In other news, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $65.03, for a total value of $325,150.00. Following the sale, the insider directly owned 58,530 shares in the company, valued at approximately $3,806,205.90. This represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total value of $490,000.00. Following the sale, the insider directly owned 273,027 shares of the company's stock, valued at $19,111,890. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 339,979 shares of company stock worth $18,446,632 and sold 267,000 shares worth $18,056,139. 38.07% of the stock is currently owned by insiders.

Institutional Trading of Goosehead Insurance

Several institutional investors and hedge funds have recently made changes to their positions in GSHD. Integrated Wealth Concepts LLC purchased a new stake in shares of Goosehead Insurance during the second quarter valued at $48,000. Baird Financial Group Inc. increased its stake in Goosehead Insurance by 15.6% in the 2nd quarter. Baird Financial Group Inc. now owns 7,541 shares of the company's stock worth $366,000 after buying an additional 1,016 shares during the period. Nykredit A S purchased a new position in Goosehead Insurance in the 2nd quarter worth about $50,000. Corient Private Wealth LP lifted its holdings in 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. Finally, Compass Financial Management LLC bought a new stake in Goosehead Insurance during the 2nd quarter valued at about $192,000.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.