Root, Inc. (NASDAQ:ROOT) Given Average Recommendation of “Moderate Buy” by Analysts

Root, Inc. (NASDAQ:ROOT) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $53.38.

A number of research firms have weighed in on ROOT. UBS Group reduced their target price on shares of Root from $71.00 to $61.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $82.00 price objective (down previously from $88.00) on shares of Root in a research note on Friday, August 16th. Finally, TD Cowen raised their target price on Root from $11.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP lifted its position in shares of Root by 43.4% during the 4th quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock valued at $488,000 after acquiring an additional 14,096 shares during the period. Cannell Capital LLC raised its holdings in shares of Root by 144.0% during the fourth quarter. Cannell Capital LLC now owns 717,043 shares of the company’s stock valued at $7,515,000 after purchasing an additional 423,120 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Root during the 1st quarter worth about $293,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Root in the 1st quarter valued at about $1,171,000. Finally, Quantbot Technologies LP bought a new stake in Root in the 1st quarter valued at about $431,000. Institutional investors own 59.82% of the company’s stock.

Root Trading Up 0.6 %

NASDAQ ROOT opened at $37.78 on Thursday. The company has a market cap of $562.92 million, a price-to-earnings ratio of -4.86 and a beta of 2.54. Root has a twelve month low of $7.22 and a twelve month high of $86.57. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.98. The business’s fifty day moving average is $46.86 and its 200 day moving average is $54.62.

Root (NASDAQ:ROOT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.74) by $1.22. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $264.80 million. During the same period last year, the firm posted ($2.55) earnings per share. The business’s revenue for the quarter was up 286.6% on a year-over-year basis. As a group, sell-side analysts expect that Root will post -2.13 EPS for the current fiscal year.

Root Company Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.