Goosehead Insurance (NASDAQ:GSHD) Announces Quarterly Earnings Results

Goosehead Insurance (NASDAQ:GSHD) released its earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05, Briefing.com reports. The company had revenue of $78.04 million during the quarter, compared to the consensus estimate of $80.54 million. Goosehead Insurance had a return on equity of 244.15% and a net margin of 6.71%. Goosehead Insurance’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. Goosehead Insurance updated its FY 2024 guidance to EPS.

Goosehead Insurance Stock Up 12.6 %

GSHD stock traded up $12.10 during trading on Thursday, hitting $108.13. 642,961 shares of the company’s stock were exchanged, compared to its average volume of 293,265. The business has a 50-day moving average price of $88.55 and a two-hundred day moving average price of $72.76. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 174.40, a PEG ratio of 4.72 and a beta of 1.35. Goosehead Insurance has a 52-week low of $50.47 and a 52-week high of $108.16. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling

In related news, major shareholder Patrick Ryan Langston sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $95.35, for a total transaction of $953,500.00. Following the completion of the sale, the insider now owns 5,000 shares in the company, valued at $476,750. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Goosehead Insurance news, Chairman Mark Evan Jones sold 11,699 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $85.75, for a total value of $1,003,189.25. Following the completion of the sale, the chairman now owns 39,451 shares in the company, valued at approximately $3,382,923.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Ryan Langston sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $95.35, for a total value of $953,500.00. Following the completion of the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $476,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,798 shares of company stock worth $6,310,613 over the last 90 days. 48.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Goosehead Insurance from $95.00 to $109.00 and gave the company an “outperform” rating in a research report on Thursday. Truist Financial lifted their target price on Goosehead Insurance from $65.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, October 4th. TD Cowen downgraded Goosehead Insurance from a “buy” rating to a “hold” rating and dropped their target price for the company from $98.00 to $94.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on Goosehead Insurance from $65.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $84.00 price objective (down from $85.00) on shares of Goosehead Insurance in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Goosehead Insurance has a consensus rating of “Hold” and a consensus price target of $89.40.

Goosehead Insurance Company Profile

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.