Root (NASDAQ:ROOT) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Root (NASDAQ:ROOT) to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

Several other research firms have also recently weighed in on ROOT. Keefe, Bruyette & Woods restated an outperform rating and set a $82.00 price objective (down from $88.00) on shares of Root in a research report on Friday, August 16th. UBS Group lowered their target price on Root from $71.00 to $61.00 and set a neutral rating on the stock in a research note on Tuesday, August 13th. Finally, TD Cowen boosted their price target on Root from $11.00 to $51.00 and gave the company a hold rating in a research note on Wednesday, June 5th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $53.38.

Root Stock Down 0.6 %

ROOT stock opened at $39.06 on Thursday. The business’s 50 day simple moving average is $45.52 and its 200 day simple moving average is $54.41. Root has a 1-year low of $7.22 and a 1-year high of $86.57. The firm has a market capitalization of $581.99 million, a PE ratio of -5.03 and a beta of 2.53. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.98.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($1.74) by $1.22. The company had revenue of $289.20 million for the quarter, compared to analyst estimates 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 revenue was up 286.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.55) earnings per share. As a group, research analysts anticipate that Root will post -2.13 EPS for the current year.

Institutional Trading of Root

A number of institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in shares of Root in the 1st quarter valued at approximately $293,000. Algert Global LLC bought a new position in Root in the second quarter valued at approximately $288,000. Vanguard Personalized Indexing Management LLC raised its position in Root by 76.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after purchasing an additional 2,576 shares in the last quarter. Quantbot Technologies LP bought a new stake in Root during the first quarter worth $431,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Root in the 1st quarter valued at $434,000. 59.82% of the stock is currently owned by institutional investors.

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.