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

Goosehead Insurance (NASDAQ:GSHD) had its target price increased by equities researchers at Royal Bank of Canada from $95.00 to $109.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 0.38% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Piper Sandler increased their price target on Goosehead Insurance from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $84.00 price objective (down previously from $85.00) on shares of Goosehead Insurance in a research note on Friday, July 26th. BMO Capital Markets lowered shares of Goosehead Insurance from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a research note on Thursday, August 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $100.00 target price on shares of Goosehead Insurance in a research report on Tuesday, October 15th. Finally, Truist Financial raised their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.40.

Goosehead Insurance Price Performance

Shares of GSHD opened at $108.59 on Thursday. The stock’s fifty day moving average is $89.01 and its 200-day moving average is $73.10. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.14 and a current ratio of 1.13. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 175.15, a price-to-earnings-growth ratio of 4.72 and a beta of 1.35. Goosehead Insurance has a one year low of $50.47 and a one year high of $109.95.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results 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. The company had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a net margin of 6.71% and a return on equity of 244.15%. Goosehead Insurance’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. Equities analysts anticipate that Goosehead Insurance will post 0.76 EPS for the current year.

Insider Activity at Goosehead Insurance

In related news, Chairman Mark Evan Jones sold 14,030 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the completion of the transaction, the chairman now directly owns 39,451 shares in the company, valued at approximately $3,272,854.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Goosehead Insurance news, Chairman Mark Evan Jones sold 14,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $82.96, for a total transaction of $1,163,928.80. Following the transaction, the chairman now owns 39,451 shares of the company’s stock, valued at $3,272,854.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total value of $953,500.00. Following the completion of the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $476,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,798 shares of company stock worth $6,310,613 in the last quarter. Corporate insiders own 48.35% of the company’s stock.

Institutional Investors Weigh In On Goosehead Insurance

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