Goosehead Insurance (NASDAQ:GSHD) Hits New 52-Week High – Still a Buy?

Goosehead Insurance, Inc (NASDAQ:GSHD)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $130.39 and last traded at $129.18, with a volume of 6552 shares traded. The stock had previously closed at $129.69.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GSHD shares. JPMorgan Chase & Co. lifted their price target on shares of Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Piper Sandler lifted their price target on shares of 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 lifted their price target on shares of Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their target price on shares of Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.90.

Goosehead Insurance Price Performance

The firm’s 50-day moving average price is $103.62 and its 200-day moving average price is $82.51. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.69 billion, a PE ratio of 175.69, a PEG ratio of 4.85 and a beta of 1.32.

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

Insider Buying and Selling

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 3,019 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $90.34, for a total value of $272,736.46. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at $451,700. This represents a 37.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Miller sold 58,327 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the completion of the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This represents a 66.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,255 shares of company stock valued at $12,686,800 in the last ninety days. 48.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in Goosehead Insurance in the 3rd quarter worth about $29,000. GAMMA Investing LLC boosted its stake 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. Cullen Frost Bankers Inc. boosted its stake in shares of Goosehead Insurance by 49.4% during the second quarter. Cullen Frost Bankers Inc. now owns 635 shares of the company’s stock valued at $36,000 after purchasing an additional 210 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Goosehead Insurance by 567.6% during the third quarter. Blue Trust Inc. now owns 474 shares of the company’s stock valued at $42,000 after purchasing an additional 403 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Goosehead Insurance by 2,810.7% during the second quarter. Quarry LP now owns 815 shares of the company’s stock valued at $47,000 after purchasing an additional 787 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.