Goosehead Insurance (NASDAQ:GSHD) Stock Has Consensus Price Target of $64.42 According to Analysts

Key Points

• Analyst sentiment is mixed: Fifteen firms give Goosehead Insurance a consensus “Hold” rating, with an average 12-month price target of $64.42. Ratings include two sells, six holds, six buys and one strong buy.
• Recent results were mixed: Quarterly EPS of $0.64 exceeded the $0.47 consensus estimate, while revenue of $95.63 million fell short of the $103.30 million forecast but increased 20.6% year over year.
• The stock traded down 4.2% to $48.50, below its 50-day moving average of $55.18 but above its 200-day average of $50.23. Insiders acquired $11.8 million of shares and sold $18.1 million over the past 90 days.

Shares of Goosehead Insurance (NASDAQ:GSHD - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $64.42.

GSHD has been the subject of a number of analyst reports. Citigroup reissued a "market outperform" rating on shares of Goosehead Insurance in a research report on Monday, October 12th. UBS Group upped their price objective on shares of Goosehead Insurance from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Monday, July 27th. BMO Capital Markets restated a "market perform" rating on shares of Goosehead Insurance in a research report on Wednesday, October 14th. Royal Bank Of Canada lifted their target price on shares of Goosehead Insurance from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 23rd. Finally, Truist Financial lowered their target price on shares of Goosehead Insurance from $58.00 to $48.00 and set a "hold" rating for the company in a research note on Tuesday, October 13th.

Insiders Place Their Bets

In other Goosehead Insurance news, major shareholder Durable Capital Partners Lp acquired 150,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was acquired at an average price of $47.32 per share, with a total value of $7,098,000.00. Following the completion of the transaction, the insider directly owned 2,720,260 shares in the company, valued at approximately $128,722,703.20. This trade represents a 5.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder & The Bear Irrevocable T. Chick sold 5,000 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $65.03, for a total value of $325,150.00. Following the completion of the transaction, the insider owned 58,530 shares of the company's stock, valued at $3,806,205.90. The trade was a 7.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 226,333 shares of company stock worth $11,816,524 and have sold 267,000 shares worth $18,056,139. 38.07% of the stock is currently owned by insiders.

Institutional Trading of Goosehead Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSHD. Wasatch Advisors LP increased its position in Goosehead Insurance by 32.3% during the first quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company's stock worth $97,786,000 after purchasing an additional 559,087 shares during the last quarter. Janus Henderson Group PLC raised its stake in Goosehead Insurance by 3,485.1% during the first quarter. Janus Henderson Group PLC now owns 386,906 shares of the company's stock worth $16,506,000 after purchasing an additional 376,114 shares during the period. Bank of New York Mellon Corp purchased a new position in Goosehead Insurance during the second quarter worth approximately $6,545,000. Bank of America Corp DE boosted its holdings in shares of Goosehead Insurance by 28.2% in the 1st quarter. Bank of America Corp DE now owns 329,333 shares of the company's stock valued at $14,049,000 after purchasing an additional 72,527 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Goosehead Insurance by 23.2% in the 1st quarter. Principal Financial Group Inc. now owns 219,745 shares of the company's stock valued at $9,374,000 after purchasing an additional 41,334 shares during the last quarter.

Goosehead Insurance Trading Down 4.2%

Shares of GSHD stock opened at $48.50 on Friday. The firm has a 50-day moving average price of $55.18 and a 200 day moving average price of $50.23. Goosehead Insurance has a twelve month low of $33.68 and a twelve month high of $79.85. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.83 and a beta of 1.46.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.17. The company had revenue of $95.63 million for the quarter, compared to analyst estimates of $103.30 million. Goosehead Insurance had a net margin of 8.78% and a negative return on equity of 21.00%. The firm's quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. As a group, research analysts predict that Goosehead Insurance will post 1.45 earnings per share for the current year.

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 franchise locations. The company uses technology and relationships with multiple insurance carriers to help customers compare coverage options and select policies suited to their needs.

Its offerings primarily include homeowners, automobile, renters, flood, umbrella and other personal insurance products, along with selected commercial insurance solutions.

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.