Zacks Investment Research upgraded shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $53.00 price objective on the stock.
According to Zacks, “Goosehead Insurance Inc. operates as an insurance agency. Its product portfolio includes homeowner’s insurance; auto insurance; other personal lines products including flood, wind and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance, commercial lines insurance and life insurance. Goosehead Insurance Inc. is based in Texas, United States. “
Several other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Goosehead Insurance from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Bank of America restated a buy rating and issued a $55.00 target price (up from $37.00) on shares of Goosehead Insurance in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. set a $60.00 target price on shares of Goosehead Insurance and gave the company a buy rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $50.00.
Shares of NASDAQ:GSHD traded up $0.52 during trading on Wednesday, reaching $48.30. 2,512 shares of the company were exchanged, compared to its average volume of 248,376. The firm has a market capitalization of $716.80 million, a PE ratio of 241.00, a P/E/G ratio of 2.67 and a beta of 0.34. The business’s fifty day simple moving average is $46.81 and its 200-day simple moving average is $40.81. Goosehead Insurance has a 12-month low of $20.49 and a 12-month high of $51.98.
Goosehead Insurance (NASDAQ:GSHD) last issued its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). The company had revenue of $19.40 million for the quarter, compared to analysts’ expectations of $19.83 million. Goosehead Insurance had a negative return on equity of 14.52% and a net margin of 5.06%. The firm’s revenue was up 31.1% compared to the same quarter last year. On average, sell-side analysts expect that Goosehead Insurance will post 0.36 EPS for the current fiscal year.
In other news, insider Lanni Romney sold 5,717 shares of Goosehead Insurance stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.45, for a total transaction of $259,837.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 67,554 shares of Goosehead Insurance stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $219.04, for a total transaction of $14,797,028.16. Insiders have sold 462,879 shares of company stock valued at $32,288,478 over the last quarter. Insiders own 67.50% of the company’s stock.
Several large investors have recently bought and sold shares of GSHD. BlackRock Inc. lifted its position in Goosehead Insurance by 16.7% during the second quarter. BlackRock Inc. now owns 697,667 shares of the company’s stock valued at $33,348,000 after purchasing an additional 99,656 shares during the period. Vanguard Group Inc. lifted its position in Goosehead Insurance by 12.8% during the second quarter. Vanguard Group Inc. now owns 533,427 shares of the company’s stock valued at $25,498,000 after purchasing an additional 60,653 shares during the period. Peregrine Capital Management LLC lifted its position in Goosehead Insurance by 2.4% during the third quarter. Peregrine Capital Management LLC now owns 384,711 shares of the company’s stock valued at $18,985,000 after purchasing an additional 9,132 shares during the period. Ashford Capital Management Inc. acquired a new position in Goosehead Insurance during the second quarter valued at $14,474,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in Goosehead Insurance during the second quarter valued at $7,985,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
About Goosehead Insurance
Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.
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