Bank of America Reaffirms “Buy” Rating for Goosehead Insurance (GSHD)

Bank of America reaffirmed their buy rating on shares of Goosehead Insurance (NASDAQ:GSHD) in a research report report published on Friday morning, Briefing.com Automated Import reports. They currently have a $37.00 price objective on the stock, up from their previous price objective of $35.00.

Several other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods set a $32.00 price objective on shares of Goosehead Insurance and gave the company a hold rating in a research note on Tuesday, March 19th. Zacks Investment Research raised shares of Goosehead Insurance from a sell rating to a hold rating in a research note on Thursday, January 31st. Finally, ValuEngine raised shares of Goosehead Insurance from a hold rating to a buy rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $30.50.

Shares of GSHD stock traded up $4.23 on Friday, reaching $34.94. 406,204 shares of the company were exchanged, compared to its average volume of 136,889. The stock has a market capitalization of $507.89 million and a P/E ratio of 174.70. Goosehead Insurance has a 1 year low of $13.22 and a 1 year high of $38.18.

Goosehead Insurance (NASDAQ:GSHD) last released its earnings results on Thursday, May 2nd. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $23.13 million during the quarter, compared to analysts’ expectations of $21.30 million. Goosehead Insurance had a negative net margin of 8.54% and a negative return on equity of 23.68%. The business’s quarterly revenue was up 58.6% compared to the same quarter last year. On average, equities research analysts expect that Goosehead Insurance will post 0.39 earnings per share for the current year.

In related news, CFO Mark S. Colby sold 1,032 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $30.05, for a total transaction of $31,011.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider & Robyn Jones Descendants Mark sold 20,903 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $28.25, for a total transaction of $590,509.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 390,899 shares of company stock valued at $11,401,264. 67.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Goosehead Insurance in the 3rd quarter valued at approximately $209,000. MetLife Investment Advisors LLC purchased a new stake in shares of Goosehead Insurance in the 3rd quarter valued at approximately $255,000. King Luther Capital Management Corp grew its stake in shares of Goosehead Insurance by 29.6% in the 4th quarter. King Luther Capital Management Corp now owns 45,920 shares of the company’s stock valued at $1,207,000 after buying an additional 10,495 shares during the period. BlackRock Inc. grew its stake in shares of Goosehead Insurance by 3.1% in the 3rd quarter. BlackRock Inc. now owns 527,744 shares of the company’s stock valued at $17,875,000 after buying an additional 16,098 shares during the period. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Goosehead Insurance in the 1st quarter valued at approximately $184,000. 77.21% of the stock is owned by institutional investors and hedge funds.

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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