Brokerages Set Root, Inc. (NASDAQ:ROOT) Price Target at $53.38

Shares of Root, Inc. (NASDAQ:ROOT) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $53.38.

Several brokerages recently commented on ROOT. TD Cowen increased their target price on shares of Root from $11.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, June 5th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $82.00 price objective (down previously from $88.00) on shares of Root in a report on Friday, August 16th. Finally, UBS Group dropped their target price on Root from $71.00 to $61.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th.

Root Stock Up 4.2 %

NASDAQ:ROOT opened at $39.31 on Thursday. Root has a 1 year low of $7.22 and a 1 year high of $86.57. The stock has a 50-day moving average price of $45.52 and a two-hundred day moving average price of $54.41. The stock has a market cap of $589.65 million, a price-to-earnings ratio of -5.06 and a beta of 2.54. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.98.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($1.74) by $1.22. The company had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The business’s quarterly revenue was up 286.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.55) earnings per share. As a group, equities analysts expect that Root will post -2.13 earnings per share for the current year.

Institutional Investors Weigh In On Root

A number of institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new position in Root during the 1st quarter worth approximately $293,000. Algert Global LLC bought a new position in Root during the second quarter worth $288,000. Vanguard Personalized Indexing Management LLC boosted its position in Root by 76.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after acquiring an additional 2,576 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Root during the 1st quarter worth about $431,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Root in the 1st quarter worth about $434,000. 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.