Royal Bank Of Canada Initiates Coverage on Goosehead Insurance (NASDAQ:GSHD)

Royal Bank Of Canada began coverage on shares of Goosehead Insurance (NASDAQ:GSHD) in a research report issued on Tuesday. The brokerage set a “sector perform” rating and a $49.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 4.86% from the stock’s previous close.

A number of other research firms also recently weighed in on GSHD. Weiss Ratings restated a “hold (c)” rating on shares of Goosehead Insurance in a report on Wednesday, January 28th. Citizens Jmp lowered their target price on shares of Goosehead Insurance from $140.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen upgraded Goosehead Insurance from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Truist Financial reduced their price target on Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Finally, BMO Capital Markets decreased their price target on Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.60.

Goosehead Insurance Stock Performance

Shares of Goosehead Insurance stock traded up $1.80 during trading on Tuesday, hitting $46.73. 20,028 shares of the stock traded hands, compared to its average volume of 475,515. The stock has a market cap of $1.71 billion, a P/E ratio of 44.93, a PEG ratio of 3.12 and a beta of 1.57. The company has a fifty day moving average price of $58.37 and a two-hundred day moving average price of $68.18. Goosehead Insurance has a twelve month low of $42.77 and a twelve month high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.10. The firm had revenue of $78.20 million for the quarter, compared to analyst estimates of $99.67 million. Goosehead Insurance had a net margin of 7.62% and a negative return on equity of 21.31%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. On average, equities research analysts expect that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity at Goosehead Insurance

In other Goosehead Insurance news, Director Louis Goldberg acquired 5,575 shares of Goosehead Insurance stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $44.85 per share, with a total value of $250,038.75. Following the completion of the transaction, the director owned 5,575 shares of the company’s stock, valued at $250,038.75. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its stake in Goosehead Insurance by 38.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,002,003 shares of the company’s stock valued at $147,448,000 after purchasing an additional 556,293 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Goosehead Insurance by 21.4% during the 4th quarter. Voloridge Investment Management LLC now owns 40,304 shares of the company’s stock worth $2,968,000 after purchasing an additional 7,100 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Goosehead Insurance during the 4th quarter worth about $4,409,000. Odyssean LLC acquired a new position in shares of Goosehead Insurance during the fourth quarter valued at about $728,000. Finally, Millennium Management LLC raised its position in shares of Goosehead Insurance by 29.5% during the fourth quarter. Millennium Management LLC now owns 126,485 shares of the company’s stock valued at $9,316,000 after buying an additional 28,803 shares during the last quarter.

Goosehead Insurance Company Profile

Goosehead Insurance (NASDAQ: GSHD) is a technology-driven insurance agency that connects consumers with a broad range of personal and commercial insurance products through an extensive network of independent insurance advisors. The company specializes in homeowners, auto, flood, dwelling fire, umbrella, life, and commercial lines coverage, working with multiple national and regional carriers to offer tailored policies. By combining advanced quoting tools with local market expertise, Goosehead streamlines the insurance shopping process and helps clients find competitive coverage options.

Founded in 2003 and headquartered in Westlake, Texas, Goosehead has grown its footprint across more than 40 states in the U.S.