Root, Inc. (NASDAQ:ROOT – Get Free Report) has received an average recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $41.89.
A number of analysts have commented on the stock. TD Cowen upped their price objective on shares of Root from $11.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $80.00 target price (up previously from $70.00) on shares of Root in a report on Tuesday, May 7th. Wells Fargo & Company upped their target price on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Finally, JMP Securities upped their target price on Root from $15.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st.
Check Out Our Latest Stock Analysis on Root
Insider Buying and Selling
Hedge Funds Weigh In On Root
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROOT. Citigroup Inc. grew its holdings in Root by 218,250.0% during the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after purchasing an additional 4,365 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Root by 37.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock valued at $360,000 after purchasing an additional 9,390 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Root in the fourth quarter valued at approximately $234,000. Trexquant Investment LP boosted its position in shares of Root by 43.4% in the fourth quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock valued at $488,000 after acquiring an additional 14,096 shares during the period. Finally, Cannell Capital LLC boosted its position in shares of Root by 144.0% in the fourth quarter. Cannell Capital LLC now owns 717,043 shares of the company’s stock valued at $7,515,000 after acquiring an additional 423,120 shares during the period. Institutional investors and hedge funds own 59.82% of the company’s stock.
Root Price Performance
ROOT stock opened at $79.41 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.81. Root has a one year low of $7.22 and a one year high of $86.57. The firm has a market capitalization of $1.18 billion, a PE ratio of -10.22 and a beta of 2.57. The firm has a 50-day moving average of $55.52 and a two-hundred day moving average of $42.65.
Root (NASDAQ:ROOT – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($2.51) by $2.09. Root had a negative net margin of 17.61% and a negative return on equity of 62.36%. The company had revenue of $254.90 million during the quarter, compared to analyst estimates of $203.99 million. During the same period in the prior year, the firm earned ($2.88) earnings per share. The business’s quarterly revenue was up 263.6% on a year-over-year basis. On average, analysts forecast that Root will post -4.03 earnings per share for the current year.
About Root
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.
Recommended Stories
- Five stocks we like better than Root
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Real Estate Stock Signals a Boom in Manufacturing Activity
- What is an Earnings Surprise?
- This Medical Giant’s Stock Rebounds: A 15% Upside Is the Minimum
- Canadian Penny Stocks: Can They Make You Rich?
- Financial Giant’s Shares Soar on EPS Beat and Record Asset Levels
Receive News & Ratings for Root Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Root and related companies with MarketBeat.com's FREE daily email newsletter.