Goosehead Insurance (NASDAQ:GSHD) Stock Rating Raised to “Strong-Buy” at Texas Capital

Texas Capital upgraded shares of Goosehead Insurance (NASDAQ:GSHD) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of Goosehead Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Keefe, Bruyette & Woods lowered their price objective on Goosehead Insurance from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their target price on Goosehead Insurance from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $76.00 price objective on shares of Goosehead Insurance in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Goosehead Insurance from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.45.

Goosehead Insurance Trading Down 0.9%

Goosehead Insurance stock opened at $43.99 on Tuesday. The firm has a 50 day simple moving average of $61.81 and a 200 day simple moving average of $49.93. Goosehead Insurance has a 1-year low of $33.68 and a 1-year high of $79.85. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 1.58 and a beta of 1.36.

Goosehead Insurance (NASDAQ:GSHD) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.17. Goosehead Insurance had a negative return on equity of 21.00% and a net margin of 8.78%.The firm had revenue of $95.63 million during the quarter, compared to analyst estimates of $103.30 million. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities research analysts forecast that Goosehead Insurance will post 1.46 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Durable Capital Partners Lp bought 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was bought at an average cost of $47.32 per share, for a total transaction of $7,098,000.00. Following the acquisition, the insider directly owned 2,720,260 shares of the company’s stock, valued at $128,722,703.20. The trade was a 5.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Adrienne Kebodeaux sold 7,000 shares of Goosehead Insurance stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $70.00, for a total value of $490,000.00. Following the completion of the transaction, the insider directly owned 273,027 shares in the company, valued at $19,111,890. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 339,979 shares of company stock worth $18,446,632 and sold 267,000 shares worth $18,056,139. Insiders own 38.07% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP grew its position in shares of Goosehead Insurance by 32.3% in the 1st quarter. Wasatch Advisors LP now owns 2,292,227 shares of the company’s stock worth $97,786,000 after buying an additional 559,087 shares during the last quarter. Langdon Equity Partners purchased a new position in shares of Goosehead Insurance during the 4th quarter worth approximately $41,892,000. Janus Henderson Group PLC raised its position in shares of Goosehead Insurance by 3,485.1% in the 1st quarter. Janus Henderson Group PLC now owns 386,906 shares of the company’s stock worth $16,506,000 after acquiring an additional 376,114 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Goosehead Insurance during the second quarter valued at approximately $6,545,000. Finally, 3G Capital Partners LP grew its stake in Goosehead Insurance by 80.0% in the fourth quarter. 3G Capital Partners LP now owns 225,000 shares of the company’s stock worth $16,571,000 after purchasing an additional 100,000 shares during the period.

Goosehead Insurance Company Profile

Goosehead Insurance, Inc is an independent insurance agency that distributes personal and commercial insurance products through a network of corporate and franchised locations. The company represents multiple insurance carriers, allowing its agents to compare coverage options and help customers select policies based on their individual needs.

Its product offerings include homeowners, auto, renters, flood, personal umbrella and other personal-lines insurance, along with selected commercial insurance products.