Root, Inc. (NASDAQ:ROOT) Receives $88.33 Consensus Target Price from Brokerages

Root, Inc. (NASDAQ:ROOT) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $88.33.

ROOT has been the subject of several recent research reports. Scotiabank reissued a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group lifted their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Root in a report on Sunday, March 2nd.

Insiders Place Their Bets

In related news, Director Doug Ulman sold 2,000 shares of Root stock in a transaction on Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 6,201 shares in the company, valued at approximately $1,085,175. The trade was a 24.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Root in the third quarter worth about $539,000. Quantbot Technologies LP grew its stake in shares of Root by 120.0% in the 3rd quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock worth $561,000 after purchasing an additional 8,092 shares during the last quarter. FMR LLC grew its holdings in shares of Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after acquiring an additional 16,348 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after purchasing an additional 2,889 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of Root by 15.2% during the third quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock valued at $370,000 after purchasing an additional 1,288 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Stock Down 10.3 %

Root stock opened at $151.11 on Thursday. The company has a market capitalization of $2.30 billion, a P/E ratio of -122.85 and a beta of 2.48. Root has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The stock has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $84.13. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

Root (NASDAQ:ROOT) last posted its quarterly earnings data 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. The firm had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. Equities research analysts expect that Root will post -0.08 earnings per share for the current 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.