Root, Inc. (ROOT) – What Are Analysts Thinking About This Stock?

Root, Inc. (NASDAQ:ROOT) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $57.75.

ROOT has been the subject of several research reports. Jefferies Financial Group cut Root from a “buy” rating to a “hold” rating and lowered their target price for the company from $78.00 to $58.00 in a research note on Tuesday, August 11th. Weiss Ratings raised Root from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. TD Cowen lowered Root from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Wells Fargo & Company raised their price target on Root from $47.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, November 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on Root from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th.

Hedge Funds Weigh In On Root

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its holdings in Root by 49.1% in the first quarter. First Trust Advisors LP now owns 68,050 shares of the company’s stock valued at $3,006,000 after purchasing an additional 22,422 shares during the last quarter. Prosperitas Financial LLC increased its stake in shares of Root by 4.4% in the 2nd quarter. Prosperitas Financial LLC now owns 27,411 shares of the company’s stock valued at $1,533,000 after acquiring an additional 1,149 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in shares of Root in the 1st quarter valued at approximately $1,193,000. Quantinno Capital Management LP acquired a new stake in shares of Root in the 1st quarter valued at approximately $920,000. Finally, State of Wyoming acquired a new stake in shares of Root in the 3rd quarter valued at approximately $289,000. 59.82% of the stock is owned by institutional investors.

Root Price Performance

NASDAQ ROOT traded up $0.24 on Tuesday, hitting $43.87. 219,636 shares of the company were exchanged, compared to its average volume of 197,902. The firm has a 50 day moving average of $49.72 and a two-hundred day moving average of $53.27. The company has a market cap of $679.55 million, a P/E ratio of 9.24 and a beta of 3.06. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.60. Root has a 1-year low of $40.91 and a 1-year high of $87.40.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.23. Root had a net margin of 5.03% and a return on equity of 24.82%. The firm had revenue of $381.30 million during the quarter, compared to analysts’ expectations of $384.43 million. On average, equities analysts predict that Root will post 4.46 EPS for the current year.

About Root

Root, Inc. is a technology-focused insurance company that primarily provides personal auto insurance in the United States. Its coverage is offered in participating states, with availability and policy options varying by location. The company uses smartphone technology to assess driving behavior, including factors such as braking and driving patterns, and incorporates that information into its insurance pricing. Customers can use Root’s mobile app to get quotes, manage policies and access insurance services.