Root (NASDAQ:ROOT) Releases Earnings Results, Beats Estimates By $1.93 EPS

Root (NASDAQ:ROOT) announced its quarterly earnings data on Wednesday. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.93, Zacks reports. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%.

Root Stock Up 1.7 %

Shares of ROOT traded up $1.62 during mid-day trading on Wednesday, hitting $98.71. 855,911 shares of the company’s stock were exchanged, compared to its average volume of 410,607. The firm has a fifty day moving average of $91.36 and a two-hundred day moving average of $70.00. Root has a twelve month low of $20.22 and a twelve month high of $141.23. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -80.25 and a beta of 2.58. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65.

Analysts Set New Price Targets

ROOT has been the subject of several analyst reports. Citizens Jmp downgraded shares of Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their price target on shares of Root from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. UBS Group raised their target price on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $90.00 price objective (up from $82.00) on shares of Root in a research note on Tuesday, November 5th. Finally, JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.00.

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.