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

Goosehead Insurance (NASDAQ:GSHD) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $92.20.

GSHD has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Goosehead Insurance from $110.00 to $79.00 and set a “market perform” rating for the company in a research report on Tuesday, November 25th. JMP Securities lowered their price target on shares of Goosehead Insurance from $150.00 to $140.00 and set a “market outperform” rating for the company in a report on Tuesday, October 14th. Jefferies Financial Group started coverage on Goosehead Insurance in a research note on Monday. They set a “buy” rating and a $93.00 price objective on the stock. UBS Group lowered their price objective on Goosehead Insurance from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, Truist Financial dropped their target price on Goosehead Insurance from $85.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, October 23rd.

Goosehead Insurance Price Performance

NASDAQ:GSHD opened at $75.91 on Thursday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 67.18, a PEG ratio of 12.40 and a beta of 1.52. Goosehead Insurance has a 1 year low of $64.40 and a 1 year high of $127.99. The stock’s 50 day simple moving average is $70.19 and its two-hundred day simple moving average is $86.21.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Thursday, October 23rd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The firm had revenue of $90.44 million for the quarter, compared to the consensus estimate of $94.25 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Goosehead Insurance will post 0.83 EPS for the current year.

Insider Activity

In other news, CFO Mark E. Jr. Jones acquired 873 shares of the business’s stock in a transaction on Monday, October 27th. The shares were acquired at an average price of $74.44 per share, for a total transaction of $64,986.12. Following the completion of the transaction, the chief financial officer directly owned 4,364 shares of the company’s stock, valued at approximately $324,856.16. The trade was a 25.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Miller bought 5,000 shares of Goosehead Insurance stock in a transaction dated Friday, November 28th. The stock was purchased at an average cost of $72.34 per share, for a total transaction of $361,700.00. Following the purchase, the chief executive officer owned 35,000 shares of the company’s stock, valued at approximately $2,531,900. This trade represents a 16.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 7,973 shares of company stock valued at $577,487 over the last ninety days. 48.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new stake in shares of Goosehead Insurance in the first quarter worth approximately $225,000. Simplex Trading LLC bought a new position in Goosehead Insurance in the 1st quarter valued at $88,000. Invesco Ltd. increased its stake in Goosehead Insurance by 56.8% in the first quarter. Invesco Ltd. now owns 102,402 shares of the company’s stock worth $12,090,000 after purchasing an additional 37,098 shares during the period. Entropy Technologies LP lifted its position in shares of Goosehead Insurance by 13.0% during the first quarter. Entropy Technologies LP now owns 2,606 shares of the company’s stock worth $308,000 after purchasing an additional 300 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Goosehead Insurance during the first quarter valued at $8,025,000.

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.