Goosehead Insurance (NASDAQ:GSHD) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of Goosehead Insurance (NASDAQ:GSHD) in a research note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.42% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Goosehead Insurance from $101.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Keefe, Bruyette & Woods decreased their target price on Goosehead Insurance from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Goosehead Insurance in a research report on Thursday, October 23rd. Piper Sandler cut their price target on Goosehead Insurance from $79.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Goosehead Insurance in a research note on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.20.

Goosehead Insurance Stock Performance

Goosehead Insurance stock opened at $75.97 on Monday. The stock has a market cap of $2.80 billion, a PE ratio of 67.23, a price-to-earnings-growth ratio of 12.33 and a beta of 1.52. The firm’s 50-day simple moving average is $70.21 and its 200 day simple moving average is $86.29. Goosehead Insurance has a fifty-two week low of $64.40 and a fifty-two week high of $127.99.

Goosehead Insurance (NASDAQ:GSHD) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The business had revenue of $90.44 million for the quarter, compared to analysts’ expectations of $94.25 million. Goosehead Insurance had a net margin of 8.55% and a negative return on equity of 34.60%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, analysts predict that Goosehead Insurance will post 0.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark E. Jr. Jones acquired 873 shares of Goosehead Insurance stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average price of $74.44 per share, with a total value of $64,986.12. Following the completion of the purchase, the chief financial officer owned 4,364 shares in the company, valued at approximately $324,856.16. The trade was a 25.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel John Terry O’connor bought 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average cost of $71.81 per share, for a total transaction of $150,801.00. Following the acquisition, the general counsel directly owned 3,100 shares in the company, valued at $222,611. This trade represents a 210.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 7,973 shares of company stock worth $577,487. 37.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goosehead Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Goosehead Insurance by 480.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Goosehead Insurance by 802.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the company’s stock valued at $47,000 after buying an additional 393 shares in the last quarter. CWM LLC lifted its position in Goosehead Insurance by 73.8% in the 2nd quarter. CWM LLC now owns 471 shares of the company’s stock worth $50,000 after buying an additional 200 shares during the last quarter. Fifth Third Bancorp grew its position in Goosehead Insurance by 71.4% during the third quarter. Fifth Third Bancorp now owns 682 shares of the company’s stock valued at $51,000 after acquiring an additional 284 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Goosehead Insurance during the first quarter worth approximately $62,000.

About Goosehead Insurance

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.