Root, Inc. (NASDAQ:ROOT) Receives $88.33 Consensus Target Price from Brokerages

Shares of Root, Inc. (NASDAQ:ROOT) have been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $88.33.

A number of analysts have recently weighed in on the company. Wells Fargo & Company reissued a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Scotiabank reissued a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Finally, UBS Group increased their price objective on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th.

Root Price Performance

ROOT opened at $160.26 on Thursday. The stock has a market capitalization of $2.44 billion, a P/E ratio of -130.29 and a beta of 2.48. Root has a 12-month low of $34.04 and a 12-month high of $165.23. The stock has a 50-day moving average price of $114.28 and a 200-day moving average price of $81.48. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of ($0.63) by $1.93. The firm had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Equities analysts predict that Root will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Root

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after acquiring an additional 365 shares during the period. Point72 DIFC Ltd purchased a new stake in Root in the third quarter worth $33,000. KLP Kapitalforvaltning AS bought a new position in Root in the fourth quarter worth $94,000. Aquatic Capital Management LLC raised its holdings in Root by 92.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after purchasing an additional 737 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Root in the fourth quarter worth $154,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

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.