Root (NASDAQ:ROOT) Reaches New 52-Week Low – Time to Sell?

Root, Inc. (NASDAQ:ROOT)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $42.51 and last traded at $43.27, with a volume of 68926 shares changing hands. The stock had previously closed at $43.29.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Root from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, February 26th. Wells Fargo & Company lowered their price target on shares of Root from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. UBS Group lowered their target price on Root from $90.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. Finally, Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.80.

Root Stock Up 1.2%

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $55.22 and its two-hundred day moving average price is $72.01. The company has a market capitalization of $681.53 million, a price-to-earnings ratio of 18.93 and a beta of 2.84.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.28. Root had a net margin of 2.58% and a return on equity of 15.34%. The business had revenue of $397.00 million during the quarter, compared to the consensus estimate of $381.57 million. During the same period last year, the business posted $1.30 EPS. Root’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in shares of Root in the third quarter valued at $50,000. Russell Investments Group Ltd. lifted its stake in shares of Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock worth $94,000 after buying an additional 614 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Root by 28.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after buying an additional 241 shares during the period. Advisory Services Network LLC acquired a new position in Root in the 3rd quarter valued at about $144,000. Finally, Tower Research Capital LLC TRC raised its holdings in Root by 237.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock valued at $164,000 after acquiring an additional 899 shares during the period. 59.82% of the stock is owned by institutional investors and hedge funds.

About Root

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.