Goosehead Insurance (NASDAQ:GSHD) Upgraded at Zacks Research

Key Points

• Goosehead Insurance has been upgraded from a "strong sell" to a "hold" rating by Zacks Research as of Monday.
• Current analysts' consensus rating for Goosehead Insurance is "Hold" with an average target price of $110.91.
• The company recently reported $0.49 earnings per share for the latest quarter, missing estimates by $0.04, despite a 20.4% year-over-year revenue increase.

Zacks Research upgraded shares of Goosehead Insurance (NASDAQ:GSHD - Free Report) from a strong sell rating to a hold rating in a research report report published on Monday, August 25th,Zacks.com reports.

A number of other research firms have also recently weighed in on GSHD. Keefe, Bruyette & Woods decreased their price objective on Goosehead Insurance from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Piper Sandler reaffirmed a "neutral" rating and set a $109.00 price objective (down from $122.00) on shares of Goosehead Insurance in a research report on Thursday, July 24th. BMO Capital Markets decreased their price objective on Goosehead Insurance from $142.00 to $110.00 and set a "market perform" rating for the company in a research report on Friday, July 25th. UBS Group decreased their price objective on Goosehead Insurance from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, July 28th. Finally, Cantor Fitzgerald raised Goosehead Insurance to a "strong-buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $110.91.

Goosehead Insurance Stock Performance

Shares of NASDAQ GSHD traded down $1.73 during trading hours on Monday, reaching $84.71. The stock had a trading volume of 246,198 shares, compared to its average volume of 333,702. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 74.97, a PEG ratio of 7.25 and a beta of 1.34. 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 has a fifty-two week low of $79.69 and a fifty-two week high of $130.39. The firm has a 50-day moving average of $93.33 and a 200-day moving average of $104.12.

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 analysts' consensus estimates of $0.53 by ($0.04). The firm had revenue of $94.03 million during the quarter, compared to analyst estimates of $94.18 million. Goosehead Insurance had a net margin of 8.76% and a negative return on equity of 59.49%. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Goosehead Insurance has set its FY 2025 guidance at EPS. Equities research analysts predict that Goosehead Insurance will post 0.83 earnings per share for the current year.

Insider Transactions at Goosehead Insurance

In other Goosehead Insurance news, CFO Mark E. Jr. Jones bought 1,149 shares of the business's 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 owned 3,491 shares in the company, valued at approximately $300,505.28. This represents a 49.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder & Robyn Jones Descendants Mark sold 60,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $88.23, for a total value of $5,293,800.00. Following the transaction, the insider directly owned 132,349 shares of the company's stock, valued at approximately $11,677,152.27. This trade represents a 31.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 244,770 shares of company stock valued at $21,568,721. Corporate insiders own 37.76% of the company's stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors have recently made changes to their positions in GSHD. Durable Capital Partners LP purchased a new stake in Goosehead Insurance during the 2nd quarter worth about $71,832,000. Whitebark Investors LP purchased a new stake in Goosehead Insurance during the 4th quarter worth about $55,326,000. Balyasny Asset Management L.P. increased its position in Goosehead Insurance by 118.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 556,760 shares of the company's stock worth $58,744,000 after purchasing an additional 302,130 shares in the last quarter. Wasatch Advisors LP increased its position in Goosehead Insurance by 12.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,275,369 shares of the company's stock worth $240,074,000 after purchasing an additional 253,777 shares in the last quarter. Finally, 3G Capital Partners LP increased its position in Goosehead Insurance by 105.6% during the 2nd quarter. 3G Capital Partners LP now owns 462,500 shares of the company's stock worth $48,798,000 after purchasing an additional 237,500 shares in the last quarter.

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.