Goosehead Insurance (NASDAQ:GSHD) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Goosehead Insurance (NASDAQ:GSHD) has received a consensus recommendation of "Hold" from ten analysts, with a price target of $109.50.
• The company's stock has recently declined by 5.7%, trading at $85.72 after missing earnings projections with an EPS of $0.49.
• Insider trading activity includes CFO Mark E. Jr. Jones purchasing 1,149 shares and a major shareholder selling 2,853 shares, reflecting significant fluctuations in insider ownership.

Shares of Goosehead Insurance (NASDAQ:GSHD - Get Free Report) have received an average rating of "Hold" from the ten analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $109.50.

Several research firms have weighed in on GSHD. UBS Group lowered their price target on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, July 28th. Keefe, Bruyette & Woods dropped their price target on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. BMO Capital Markets reduced their price objective on shares of Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research note on Friday, July 25th. JMP Securities reiterated a "market outperform" rating and set a $150.00 price objective on shares of Goosehead Insurance in a research report on Thursday, April 24th. Finally, Piper Sandler reiterated a "neutral" rating and set a $109.00 price objective (down previously from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th.

Goosehead Insurance Stock Down 5.7%

Shares of GSHD traded down $5.19 during trading hours on Friday, reaching $85.72. The stock had a trading volume of 735,483 shares, compared to its average volume of 362,981. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 75.86, a P/E/G ratio of 7.98 and a beta of 1.31. The firm has a 50-day simple moving average of $101.53 and a 200 day simple moving average of $107.29. Goosehead Insurance has a 12 month low of $79.33 and a 12 month high of $130.39. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 2.10.

Goosehead Insurance (NASDAQ:GSHD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The business had revenue of $94.03 million for the quarter, compared to analysts' expectations of $94.18 million. During the same period in the prior year, the business earned $0.43 earnings per share. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. Equities research analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Goosehead Insurance news, CFO Mark E. Jr. Jones bought 1,149 shares of Goosehead Insurance stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of $86.08 per share, with a total value of $98,905.92. Following the purchase, the chief financial officer directly owned 3,491 shares in the company, valued at $300,505.28. This represents a 49.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lindy Langston sold 2,853 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $110.16, for a total value of $314,286.48. The disclosure for this sale can be found here. Insiders have sold 118,966 shares of company stock worth $12,407,821 over the last ninety days. 48.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whitebark Investors LP purchased a new position in shares of Goosehead Insurance during the fourth quarter worth $55,326,000. Driehaus Capital Management LLC purchased a new position in Goosehead Insurance in the first quarter valued at $22,003,000. Goldman Sachs Group Inc. boosted its holdings in Goosehead Insurance by 86.6% in the first quarter. Goldman Sachs Group Inc. now owns 354,775 shares of the company's stock valued at $41,885,000 after purchasing an additional 164,693 shares during the period. Annex Advisory Services LLC boosted its holdings in Goosehead Insurance by 1,248.8% in the second quarter. Annex Advisory Services LLC now owns 136,564 shares of the company's stock valued at $14,409,000 after purchasing an additional 126,439 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Goosehead Insurance by 89.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 203,969 shares of the company's stock valued at $21,870,000 after purchasing an additional 96,309 shares during the period.

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.