Royal Bank of Canada Increases Goosehead Insurance (NASDAQ:GSHD) Price Target to $109.00

Goosehead Insurance (NASDAQ:GSHD) had its price objective upped by Royal Bank of Canada from $95.00 to $109.00 in a research note published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. UBS Group boosted their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the company a “neutral” rating in a report on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price objective on shares of Goosehead Insurance in a research note on Tuesday, October 15th. Finally, Truist Financial upped their target price on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Goosehead Insurance has a consensus rating of “Hold” and a consensus target price of $89.40.

Goosehead Insurance Price Performance

NASDAQ GSHD opened at $108.59 on Thursday. The stock’s fifty day moving average price is $89.01 and its 200 day moving average price is $73.29. Goosehead Insurance has a 1 year low of $50.47 and a 1 year high of $109.95. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.13 and a quick ratio of 1.14. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 152.94, a PEG ratio of 5.00 and a beta of 1.35.

Goosehead Insurance (NASDAQ:GSHD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The business had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Goosehead Insurance will post 0.76 earnings per share for the current year.

Insider Transactions at Goosehead Insurance

In related news, major shareholder Patrick Ryan Langston sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total value of $953,500.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $476,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Mark Evan Jones sold 8,977 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $82.33, for a total transaction of $739,076.41. Following the completion of the sale, the chairman now owns 39,451 shares of the company’s stock, valued at approximately $3,248,000.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Ryan Langston sold 10,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total transaction of $953,500.00. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $476,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,798 shares of company stock valued at $6,310,613 over the last 90 days. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Goosehead Insurance by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 2,369,254 shares of the company’s stock valued at $179,589,000 after buying an additional 36,676 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Goosehead Insurance by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock valued at $106,000 after purchasing an additional 165 shares during the period. Wasatch Advisors LP increased its position in Goosehead Insurance by 17.2% during the first quarter. Wasatch Advisors LP now owns 2,101,847 shares of the company’s stock worth $140,025,000 after purchasing an additional 308,312 shares during the last quarter. Norden Group LLC increased its position in Goosehead Insurance by 1,839.4% during the first quarter. Norden Group LLC now owns 109,942 shares of the company’s stock worth $7,324,000 after purchasing an additional 104,273 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Goosehead Insurance in the 1st quarter valued at about $35,000.

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.