Goosehead Insurance (NASDAQ:GSHD) PT Raised to $90.00 at Keefe, Bruyette & Woods

Goosehead Insurance (NASDAQ:GSHD) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $84.00 to $90.00 in a report released on Friday, The Fly reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 12.90% from the stock’s current price.

A number of other research analysts have also weighed in on GSHD. Royal Bank of Canada raised their price objective on Goosehead Insurance from $59.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. BidaskClub upgraded Goosehead Insurance from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Zacks Investment Research lowered Goosehead Insurance from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $78.25.

NASDAQ:GSHD traded up $19.44 on Friday, reaching $103.33. 740,628 shares of the company’s stock traded hands, compared to its average volume of 133,154. The stock has a 50-day simple moving average of $77.03 and a 200-day simple moving average of $58.17. The firm has a market cap of $3.75 billion, a PE ratio of 469.70 and a beta of 0.80. Goosehead Insurance has a 12 month low of $37.26 and a 12 month high of $105.98.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.16. The business had revenue of $29.92 million for the quarter, compared to analysts’ expectations of $23.70 million. Goosehead Insurance had a negative return on equity of 12.02% and a net margin of 4.25%. As a group, sell-side analysts expect that Goosehead Insurance will post 0.33 EPS for the current year.

In related news, major shareholder Robyn Mary Elizabeth Jones sold 27,400 shares of Goosehead Insurance stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $57.08, for a total value of $1,563,992.00. Following the completion of the transaction, the insider now owns 742,390 shares in the company, valued at $42,375,621.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael C. Colby sold 4,806 shares of Goosehead Insurance stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $85.19, for a total value of $409,423.14. Following the completion of the transaction, the chief operating officer now owns 627,024 shares of the company’s stock, valued at approximately $53,416,174.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 683,863 shares of company stock valued at $45,676,179. 63.43% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in Goosehead Insurance by 1.5% in the first quarter. Rhumbline Advisers now owns 13,765 shares of the company’s stock worth $614,000 after purchasing an additional 209 shares during the last quarter. Swiss National Bank lifted its stake in Goosehead Insurance by 1.6% in the first quarter. Swiss National Bank now owns 25,100 shares of the company’s stock worth $1,120,000 after purchasing an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Goosehead Insurance by 98.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,050 shares of the company’s stock worth $79,000 after purchasing an additional 522 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Goosehead Insurance by 50.9% in the first quarter. Victory Capital Management Inc. now owns 3,181 shares of the company’s stock worth $142,000 after purchasing an additional 1,073 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Goosehead Insurance by 63.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,324 shares of the company’s stock worth $148,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors own 42.07% of the company’s stock.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc focuses on operating as a holding company for Goosehead Financial, LLC that provides personal lines insurance agency services in the United States. The company operates through two segments, Corporate Channel and Franchise Channel. It offers various insurance products, including homeowner's insurance; auto insurance; other personal lines products, such as flood, wind, and earthquake insurance; excess liability or umbrella insurance; specialty lines insurance comprising motorcycle, recreational vehicle, and other insurance; commercial lines insurance consisting of general liability, property, and auto insurance for small businesses; and life insurance.

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