Citizens Jmp Downgrades Root (NASDAQ:ROOT) to Hold

Citizens Jmp lowered shares of Root (NASDAQ:ROOTFree Report) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on ROOT. Wells Fargo & Company raised 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 Friday, November 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $90.00 price objective (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. UBS Group increased their price objective on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JMP Securities lowered shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Cantor Fitzgerald upgraded shares of Root to a “strong-buy” rating in a research report on Thursday, October 3rd. Six 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.13.

View Our Latest Stock Report on ROOT

Root Stock Performance

ROOT opened at $109.23 on Friday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -88.80 and a beta of 2.34. The company has a fifty day moving average of $54.94 and a 200 day moving average of $54.11. Root has a fifty-two week low of $7.22 and a fifty-two week high of $118.15. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

Root (NASDAQ:ROOTGet Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of ($0.61) by $1.96. The company had revenue of $305.70 million during the quarter, compared to analysts’ expectations of $272.77 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. Root’s quarterly revenue was up 165.1% on a year-over-year basis. During the same period last year, the company posted ($3.16) earnings per share. As a group, sell-side analysts forecast that Root will post -1.2 earnings per share for the current fiscal year.

Insider Transactions at Root

In other Root news, major shareholder Meyer Malka sold 75,839 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $81.21, for a total transaction of $6,158,885.19. Following the transaction, the insider now owns 43,107 shares of the company’s stock, valued at approximately $3,500,719.47. This trade represents a 63.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julie Szudarek sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $96.33, for a total transaction of $192,660.00. Following the transaction, the director now directly owns 15,003 shares in the company, valued at $1,445,238.99. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,905 shares of company stock worth $20,440,479. 11.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new position in shares of Root in the 2nd quarter worth approximately $9,547,000. Driehaus Capital Management LLC purchased a new position in shares of Root in the 2nd quarter worth approximately $9,154,000. Tidal Investments LLC purchased a new position in shares of Root in the 1st quarter worth approximately $1,997,000. Bank of New York Mellon Corp purchased a new position in shares of Root in the 2nd quarter worth approximately $1,280,000. Finally, XTX Topco Ltd purchased a new position in shares of Root in the 3rd quarter worth approximately $645,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Root (NASDAQ:ROOT)

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