Root, Inc. (NASDAQ:ROOT) Receives $55.63 Average PT from Brokerages

Shares of Root, Inc. (NASDAQ:ROOT) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Four 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 twelve-month target price among brokers that have covered the stock in the last year is $55.63.

Several equities analysts recently issued reports on ROOT shares. Wells Fargo & Company reduced their price objective on Root from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. Cantor Fitzgerald raised Root to a “strong-buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $82.00 price target (down previously from $88.00) on shares of Root in a research report on Friday, August 16th. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of Root in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group lowered their price objective on Root from $84.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new position in Root in the second quarter valued at $288,000. Sequoia Financial Advisors LLC acquired a new position in shares of Root during the first quarter worth about $293,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Root by 76.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after purchasing an additional 2,576 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Root during the third quarter worth about $412,000. Finally, Quantbot Technologies LP acquired a new position in shares of Root during the first quarter worth about $431,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Stock Performance

Shares of ROOT stock opened at $39.22 on Monday. The stock has a fifty day moving average price of $41.20 and a 200 day moving average price of $52.45. The stock has a market cap of $584.38 million, a PE ratio of -5.11 and a beta of 2.53. Root has a 1 year low of $7.22 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.43 and a current ratio of 1.43.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.74) by $1.22. The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. Root’s revenue was up 286.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.55) earnings per share. Sell-side analysts forecast 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.