Root, Inc. (NASDAQ:ROOT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $77.83.

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

Institutional Trading of Root

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROOT. Russell Investments Group Ltd. boosted 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. Point72 DIFC Ltd acquired a new position in shares of Root in the 3rd quarter valued at $33,000. KLP Kapitalforvaltning AS bought a new position in shares of Root in the 4th quarter worth $94,000. Aquatic Capital Management LLC grew its stake in shares of Root by 92.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after purchasing an additional 737 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Root in the fourth quarter valued at about $154,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Root Trading Up 25.6 %

NASDAQ:ROOT opened at $123.95 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The company’s 50 day moving average is $92.96 and its 200-day moving average is $70.57. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -100.77 and a beta of 2.58. Root has a 12 month low of $23.04 and a 12 month high of $141.23.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Equities analysts anticipate that Root will post -0.08 EPS 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.