Root (NASDAQ:ROOT) Trading Up 5.4%

Root, Inc. (NASDAQ:ROOT) traded up 5.4% on Monday . The company traded as high as $44.88 and last traded at $44.70. 140,560 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 591,952 shares. The stock had previously closed at $42.40.

Wall Street Analyst Weigh In

ROOT has been the topic of a number of research reports. TD Cowen raised their target price on shares of Root from $11.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Cantor Fitzgerald upgraded shares of Root from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $13.00 in a research note on Thursday, February 22nd. Jefferies Financial Group raised Root from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $40.00 in a report on Friday, March 1st. JMP Securities upped their price objective on Root from $15.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 1st. Finally, Citigroup lifted their target price on Root from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.89.

Root Trading Up 7.6 %

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $58.81 and a 200-day moving average price of $35.53. The firm has a market capitalization of $679.59 million, a PE ratio of -5.87 and a beta of 2.59.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.51) by $2.09. The firm had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $203.99 million. Root had a negative return on equity of 62.36% and a negative net margin of 17.61%. Root’s revenue was up 263.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.88) earnings per share. Analysts expect that Root, Inc. will post -4.81 earnings per share for the current year.

Insider Activity at Root

In other news, major shareholder Meyer Malka sold 13,300 shares of Root stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $60.58, for a total transaction of $805,714.00. Following the completion of the sale, the insider now directly owns 43,107 shares in the company, valued at approximately $2,611,422.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.71% of the company’s stock.

Institutional Trading of Root

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its position in shares of Root by 218,250.0% in the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after acquiring an additional 4,365 shares in the last quarter. Jump Financial LLC acquired a new position in Root in the 4th quarter valued at about $234,000. Trexquant Investment LP purchased a new position in Root in the 3rd quarter valued at about $309,000. Cannell Capital LLC acquired a new stake in shares of Root during the 3rd quarter worth about $2,795,000. Finally, Barclays PLC grew its holdings in shares of Root by 229,380.0% during the third quarter. Barclays PLC now owns 11,474 shares of the company’s stock worth $109,000 after buying an additional 11,469 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

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.