Goosehead Insurance (NASDAQ:GSHD) Announces Earnings Results

Goosehead Insurance (NASDAQ:GSHD) released its quarterly earnings results on Wednesday. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. Goosehead Insurance had a return on equity of 202.00% and a net margin of 5.99%. The firm had revenue of $78.10 million during the quarter, compared to the consensus estimate of $74.31 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Performance

GSHD traded up $19.19 during trading hours on Thursday, reaching $84.89. The company’s stock had a trading volume of 1,565,019 shares, compared to its average volume of 306,380. Goosehead Insurance has a 52 week low of $50.47 and a 52 week high of $92.76. The company’s 50-day moving average is $61.00 and its 200-day moving average is $67.25. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $3.22 billion, a PE ratio of 136.92, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen reduced their price target on Goosehead Insurance from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Friday, May 24th. BMO Capital Markets reduced their price target on Goosehead Insurance from $90.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods reduced their price target on Goosehead Insurance from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Bank of America upped their price target on Goosehead Insurance from $35.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $80.00 price objective on shares of Goosehead Insurance in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.80.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, COO Mark Miller purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $58.06 per share, for a total transaction of $580,600.00. Following the purchase, the chief operating officer now owns 30,000 shares in the company, valued at $1,741,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 48.35% of the stock is owned by company insiders.

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.