Root, Inc. (NASDAQ:ROOT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $53.38.

Several research analysts have recently commented on ROOT shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $82.00 price target (down from $88.00) on shares of Root in a research report on Friday, August 16th. UBS Group reduced their target price on shares of Root from $71.00 to $61.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, TD Cowen raised 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.

Institutional Trading of Root

Several large investors have recently bought and sold shares of ROOT. Algert Global LLC purchased a new position in shares of Root in the second quarter worth $288,000. Sequoia Financial Advisors LLC acquired a new stake in Root during the 1st quarter worth about $293,000. Vanguard Personalized Indexing Management LLC lifted its position in Root by 76.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after acquiring an additional 2,576 shares during the period. Quantbot Technologies LP purchased a new stake in Root during the 1st quarter valued at about $431,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Root in the first quarter valued at about $434,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Down 2.4 %

Shares of Root stock opened at $38.50 on Thursday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $577.50 million, a price-to-earnings ratio of -4.95 and a beta of 2.54. The firm’s 50-day moving average is $49.21 and its two-hundred day moving average is $54.70. Root has a 1 year low of $7.22 and a 1 year high of $86.57.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.74) by $1.22. The firm had revenue of $289.20 million for the quarter, compared to the consensus estimate of $264.80 million. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The company’s quarterly revenue was up 286.6% on a year-over-year basis. During the same period last year, the firm earned ($2.55) earnings per share. As a group, research analysts expect that Root will post -2.13 earnings per share for the current fiscal year.

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.