Goosehead Insurance (NASDAQ:GSHD) Reaches New 12-Month High – Still a Buy?

Goosehead Insurance, Inc (NASDAQ:GSHD)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $113.20 and last traded at $113.14, with a volume of 722 shares trading hands. The stock had previously closed at $107.54.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of Goosehead Insurance from $103.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. TD Cowen downgraded shares of Goosehead Insurance from a “buy” rating to a “hold” rating and dropped their target price for the stock from $98.00 to $94.00 in a report on Thursday, August 15th. UBS Group raised their target price on shares of Goosehead Insurance from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Goosehead Insurance has a consensus rating of “Hold” and an average target price of $91.30.

Goosehead Insurance Stock Down 0.6 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 149.35, a P/E/G ratio of 4.14 and a beta of 1.32. The stock’s fifty day moving average price is $92.67 and its 200-day moving average price is $75.80.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The business had revenue of $78.04 million during the quarter, compared to analysts’ expectations of $80.54 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts predict that Goosehead Insurance, Inc will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Patrick Ryan Langston sold 7,674 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $425,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark Evan Jones sold 11,699 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $85.75, for a total value of $1,003,189.25. Following the sale, the chairman now directly owns 39,451 shares in the company, valued at $3,382,923.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Patrick Ryan Langston sold 7,674 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $85.19, for a total value of $653,748.06. Following the completion of the sale, the insider now owns 5,000 shares in the company, valued at $425,950. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,726 shares of company stock valued at $10,712,638. 38.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors have recently modified their holdings of GSHD. Norden Group LLC increased its position in shares of Goosehead Insurance by 37.6% during the 1st quarter. Norden Group LLC now owns 7,799 shares of the company’s stock valued at $520,000 after purchasing an additional 2,130 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Goosehead Insurance by 9.6% during the 1st quarter. BNP Paribas Financial Markets now owns 19,282 shares of the company’s stock worth $1,285,000 after acquiring an additional 1,682 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Goosehead Insurance by 31.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,428 shares of the company’s stock worth $295,000 after acquiring an additional 1,058 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Goosehead Insurance by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 21,398 shares of the company’s stock worth $1,426,000 after acquiring an additional 279 shares during the period. Finally, Swiss National Bank grew its stake in shares of Goosehead Insurance by 2.4% during the 1st quarter. Swiss National Bank now owns 43,400 shares of the company’s stock worth $2,891,000 after acquiring an additional 1,000 shares during the period.

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.