Root, Inc. (NASDAQ:ROOT) Receives $75.00 Consensus PT from Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $77.83.

Several equities research analysts have issued reports on ROOT shares. JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $90.00 price target (up from $82.00) on shares of Root in a report on Tuesday, November 5th. UBS Group upped their price objective on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Root from $80.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday.

Institutional Trading of Root

A number of institutional investors have recently modified their holdings of ROOT. Versor Investments LP acquired a new position in Root in the third quarter valued at about $216,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Root in the 3rd quarter valued at approximately $539,000. Quantbot Technologies LP raised its position in shares of Root by 120.0% in the 3rd quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock valued at $561,000 after buying an additional 8,092 shares in the last quarter. FMR LLC boosted its position in shares of Root by 966.2% during the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after acquiring an additional 16,348 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Root by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after acquiring an additional 2,889 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors.

Root Stock Up 9.1 %

ROOT opened at $135.17 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The stock’s fifty day simple moving average is $94.20 and its 200 day simple moving average is $71.36. Root has a 1-year low of $27.24 and a 1-year high of $141.23. The stock has a market cap of $2.04 billion, a PE ratio of -109.89 and a beta of 2.58.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.93. The company had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. As a group, research analysts expect that Root will post -0.08 earnings per share for the current year.

About Root

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.