TD Cowen Forecasts Strong Price Appreciation for Goosehead Insurance (NASDAQ:GSHD) Stock

Goosehead Insurance (NASDAQ:GSHD) had its price target boosted by TD Cowen from $94.00 to $130.00 in a report released on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler raised their price target on Goosehead Insurance from $103.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. BMO Capital Markets boosted their price target on Goosehead Insurance from $90.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday. Truist Financial upped their price target on shares of Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada raised their price objective on shares of Goosehead Insurance from $95.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, JMP Securities upped their target price on shares of Goosehead Insurance from $100.00 to $115.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.90.

Goosehead Insurance Price Performance

GSHD opened at $126.34 on Wednesday. The company’s 50-day simple moving average is $100.48 and its two-hundred day simple moving average is $80.51. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $4.69 billion, a P/E ratio of 175.47, a P/E/G ratio of 4.51 and a beta of 1.32. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $127.60.

Goosehead Insurance (NASDAQ:GSHD) last issued 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 net margin of 6.77% and a return on equity of 284.41%. The company had revenue of $78.04 million for the quarter, compared to the consensus estimate of $80.54 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts predict that Goosehead Insurance will post 0.84 EPS for the current year.

Insider Transactions at Goosehead Insurance

In related news, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $110.22, for a total value of $6,428,801.94. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,306,600. The trade was a 66.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Patrick Ryan Langston sold 2,167 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $90.09, for a total transaction of $195,225.03. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $450,450. This trade represents a 30.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,232 shares of company stock valued at $13,425,876 over the last three months. Corporate insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of GSHD. Cullen Frost Bankers Inc. increased its holdings in Goosehead Insurance by 49.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after acquiring an additional 210 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Goosehead Insurance by 195.8% during the third quarter. GAMMA Investing LLC now owns 349 shares of the company’s stock valued at $31,000 after purchasing an additional 231 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Goosehead Insurance by 5.8% in the third quarter. HighTower Advisors LLC now owns 5,040 shares of the company’s stock worth $448,000 after purchasing an additional 276 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Goosehead Insurance by 7.3% in the first quarter. ProShare Advisors LLC now owns 4,409 shares of the company’s stock worth $294,000 after buying an additional 299 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Goosehead Insurance during the third quarter valued at approximately $29,000.

About Goosehead Insurance

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.