Goosehead Insurance (NASDAQ:GSHD) Earns Hold Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Goosehead Insurance (NASDAQ:GSHD) in a report released on Tuesday, MarketBeat Ratings reports. The firm issued a hold rating and a $49.00 price objective on the stock.

GSHD has been the subject of several other reports. Cantor Fitzgerald set a $84.00 price objective on Goosehead Insurance in a research report on Monday, February 23rd. BMO Capital Markets dropped their target price on shares of Goosehead Insurance from $79.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, February 18th. Citigroup reaffirmed an “outperform” rating on shares of Goosehead Insurance in a research note on Wednesday, February 18th. Truist Financial reduced their price target on shares of Goosehead Insurance from $72.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Goosehead Insurance from $80.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.60.

Goosehead Insurance Trading Down 6.2%

Shares of Goosehead Insurance stock opened at $42.21 on Tuesday. The stock’s fifty day simple moving average is $56.57 and its 200 day simple moving average is $67.56. The company has a market capitalization of $1.54 billion, a PE ratio of 40.59, a PEG ratio of 3.18 and a beta of 1.57. Goosehead Insurance has a 12 month low of $41.96 and a 12 month high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last posted its earnings results on Tuesday, February 17th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. The firm had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $99.67 million. Goosehead Insurance had a negative return on equity of 21.31% and a net margin of 7.62%.The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. Analysts predict that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Louis Goldberg bought 5,575 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average price of $44.85 per share, with a total value of $250,038.75. Following the transaction, the director owned 5,575 shares in the company, valued at $250,038.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 48.35% of the company’s stock.

Hedge Funds Weigh In On Goosehead Insurance

A number of large investors have recently bought and sold shares of GSHD. Bank of Montreal Can raised its holdings in shares of Goosehead Insurance by 2.2% in the second quarter. Bank of Montreal Can now owns 5,299 shares of the company’s stock valued at $559,000 after purchasing an additional 116 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Goosehead Insurance by 7.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,436 shares of the company’s stock worth $257,000 after purchasing an additional 159 shares during the last quarter. Meixler Investment Management Ltd. grew its position in Goosehead Insurance by 5.3% in the fourth quarter. Meixler Investment Management Ltd. now owns 4,355 shares of the company’s stock valued at $321,000 after purchasing an additional 220 shares in the last quarter. Gibbs Wealth Management grew its position in Goosehead Insurance by 3.8% in the fourth quarter. Gibbs Wealth Management now owns 6,133 shares of the company’s stock valued at $459,000 after purchasing an additional 227 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Goosehead Insurance by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,022 shares of the company’s stock valued at $1,268,000 after buying an additional 259 shares during the last quarter.

About Goosehead Insurance

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.