Root’s (ROOT) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Root (NASDAQ:ROOT) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $82.00 price objective on the stock, down from their prior price objective of $88.00.

Several other analysts also recently issued reports on the company. UBS Group cut their price objective on Root from $71.00 to $61.00 and set a neutral rating on the stock in a report on Tuesday, August 13th. TD Cowen boosted their price target on shares of Root from $11.00 to $51.00 and gave the company a hold rating in a report on Wednesday, June 5th. JMP Securities raised their price objective on shares of Root from $15.00 to $90.00 and gave the stock a market outperform rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Root from $64.00 to $78.00 and gave the company an equal weight rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $47.78.

Root Trading Down 0.1 %

Root stock opened at $48.94 on Friday. Root has a 1 year low of $7.22 and a 1 year high of $86.57. The firm’s 50 day moving average price is $56.32 and its two-hundred day moving average price is $50.83. The firm has a market cap of $729.21 million, a price-to-earnings ratio of -6.30 and a beta of 2.57. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.43 and a current ratio of 1.43.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.74) by $1.22. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The business had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $264.80 million. During the same period in the previous year, the firm posted ($2.55) EPS. The company’s quarterly revenue was up 286.6% on a year-over-year basis. On average, research analysts predict that Root will post -2.63 EPS for the current fiscal year.

Insider Buying and Selling at Root

In other news, Director Beth A. Birnbaum sold 1,735 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.67, for a total value of $75,767.45. Following the transaction, the director now directly owns 16,013 shares of the company’s stock, valued at $699,287.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On Root

Several large investors have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in Root in the fourth quarter valued at approximately $234,000. Algert Global LLC bought a new position in shares of Root during the 2nd quarter valued at $288,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Root in the 1st quarter valued at $293,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Root by 76.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after purchasing an additional 2,576 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position 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 worth $360,000 after buying an additional 9,390 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.

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.