JPMorgan Chase & Co. Issues Positive Forecast for Goosehead Insurance (NASDAQ:GSHD) Stock Price

Goosehead Insurance (NASDAQ:GSHD) had its price target raised by analysts at JPMorgan Chase & Co. from $77.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 14.45% from the stock’s current price.

Several other research firms also recently commented on GSHD. TD Cowen boosted their price objective on Goosehead Insurance from $94.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Truist Financial boosted their target price on Goosehead Insurance from $65.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. 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. BMO Capital Markets raised their target price on Goosehead Insurance from $90.00 to $120.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their price objective 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. 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’s stock. Based on data from MarketBeat, Goosehead Insurance presently has a consensus rating of “Hold” and an average target price of $99.20.

Goosehead Insurance Trading Down 1.9 %

Shares of GSHD stock opened at $105.20 on Friday. The stock’s fifty day simple moving average is $114.91 and its 200 day simple moving average is $91.72. Goosehead Insurance has a twelve month low of $50.47 and a twelve month high of $130.39. 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 firm has a market capitalization of $3.90 billion, a P/E ratio of 146.11, a P/E/G ratio of 4.44 and a beta of 1.38.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $78.04 million for the quarter, compared to analyst estimates of $80.54 million. Goosehead Insurance had a net margin of 6.77% and a return on equity of 284.41%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, sell-side analysts predict that Goosehead Insurance will post 0.84 EPS for the current fiscal year.

Insider Activity

In other Goosehead Insurance news, major shareholder Patrick Ryan Langston sold 10,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total transaction of $953,500.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at $476,750. This trade represents a 66.67 % 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. Also, CEO Mark Miller sold 58,327 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $110.22, for a total transaction of $6,428,801.94. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at $3,306,600. This trade represents a 66.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,255 shares of company stock valued at $11,784,327 in the last ninety days. 48.35% of the stock is currently owned by company insiders.

Institutional Trading of Goosehead Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Goosehead Insurance by 34.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,428,907 shares of the company’s stock valued at $196,956,000 after buying an additional 879,959 shares during the period. Wasatch Advisors LP increased its holdings in shares of Goosehead Insurance by 5.6% during the third quarter. Wasatch Advisors LP now owns 2,618,945 shares of the company’s stock valued at $233,872,000 after acquiring an additional 138,571 shares in the last quarter. State Street Corp raised its holdings in shares of Goosehead Insurance by 21.2% in the third quarter. State Street Corp now owns 1,059,298 shares of the company’s stock worth $94,595,000 after buying an additional 185,037 shares during the last quarter. Geode Capital Management LLC lifted its position in Goosehead Insurance by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 643,514 shares of the company’s stock worth $57,476,000 after acquiring an additional 5,969 shares during the period. Finally, American Century Companies Inc. boosted its position in Goosehead Insurance by 35.7% in the second quarter. American Century Companies Inc. now owns 420,934 shares of the company’s stock valued at $24,179,000 after buying an additional 110,832 shares during 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.