Goosehead Insurance (NASDAQ:GSHD) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Goosehead Insurance (NASDAQ:GSHD) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $80.00 target price on the stock.

Several other brokerages have also recently weighed in on GSHD. Truist Financial increased their target price on Goosehead Insurance from $60.00 to $65.00 and gave the company a hold rating in a report on Thursday. Bank of America increased their target price on Goosehead Insurance from $35.00 to $37.00 and gave the company an underperform rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. increased their target price on Goosehead Insurance from $59.00 to $65.00 and gave the company a neutral rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods dropped their target price on Goosehead Insurance from $93.00 to $85.00 and set an outperform rating for the company in a report on Thursday, April 25th. Finally, BMO Capital Markets dropped their target price on Goosehead Insurance from $90.00 to $72.00 and set an outperform rating for the company in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $75.70.

Goosehead Insurance Price Performance

GSHD opened at $88.68 on Thursday. The stock has a 50-day moving average price of $61.51 and a 200-day moving average price of $67.34. Goosehead Insurance has a 12-month low of $50.47 and a 12-month high of $92.76. The company has a current ratio of 1.13, a quick ratio of 1.73 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $3.37 billion, a P/E ratio of 143.03, a PEG ratio of 6.15 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. The firm had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $74.31 million. During the same period in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts predict that Goosehead Insurance will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in shares of Goosehead Insurance by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 15,041 shares of the company’s stock worth $1,140,000 after acquiring an additional 161 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Goosehead Insurance by 13.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,394 shares of the company’s stock worth $106,000 after acquiring an additional 165 shares in the last quarter. Janney Capital Management LLC raised its position in shares of Goosehead Insurance by 3.2% in the 4th quarter. Janney Capital Management LLC now owns 5,805 shares of the company’s stock worth $440,000 after acquiring an additional 181 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Goosehead Insurance by 4.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,529 shares of the company’s stock worth $419,000 after acquiring an additional 242 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in shares of Goosehead Insurance by 20.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,607 shares of the company’s stock worth $107,000 after acquiring an additional 277 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.