Brokerages Set Root, Inc. (NASDAQ:ROOT) PT at $75.00

Shares of Root, Inc. (NASDAQ:ROOT) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $77.83.

A number of equities analysts recently weighed in on ROOT shares. JMP Securities lowered shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. UBS Group boosted their price target on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company boosted their target price on Root from $80.00 to $97.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th.

Root Trading Up 9.1 %

NASDAQ ROOT opened at $135.17 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock’s 50-day moving average is $94.20 and its 200-day moving average is $71.36. Root has a one year low of $27.24 and a one year high of $141.23. The firm has a market cap of $2.04 billion, a P/E ratio of -109.89 and a beta of 2.58.

Root (NASDAQ:ROOT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Sell-side analysts anticipate that Root will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Root by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock worth $357,000 after purchasing an additional 171 shares in the last quarter. MetLife Investment Management LLC raised its position in Root by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company’s stock worth $391,000 after acquiring an additional 255 shares in the last quarter. Legal & General Group Plc raised its position in Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company’s stock worth $577,000 after acquiring an additional 273 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after acquiring an additional 365 shares during the last quarter. Finally, State Street Corp grew its position in shares of Root by 0.3% in the 3rd quarter. State Street Corp now owns 176,891 shares of the company’s stock valued at $6,683,000 after acquiring an additional 444 shares during the period. 59.82% of the stock is currently owned by institutional investors.

About Root

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.