Root (NASDAQ:ROOT) Shares Down 7.9% – What’s Next?

Root, Inc. (NASDAQ:ROOT)’s share price fell 7.9% during mid-day trading on Wednesday . The company traded as low as $162.58 and last traded at $155.16. 115,044 shares traded hands during trading, a decline of 77% from the average session volume of 506,422 shares. The stock had previously closed at $168.56.

Analysts Set New Price Targets

ROOT has been the topic of several recent research reports. Scotiabank reiterated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Finally, UBS Group upped their target price on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.33.

Root Trading Down 10.5 %

The company’s fifty day simple moving average is $117.87 and its two-hundred day simple moving average is $83.66. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -122.88 and a beta of 2.48. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65.

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

Institutional Trading of Root

A number of large investors have recently bought and sold shares of ROOT. California State Teachers Retirement System increased its holdings in Root by 12.0% during the 4th quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock worth $543,000 after purchasing an additional 801 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Root by 69.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock valued at $611,000 after purchasing an additional 3,459 shares during the last quarter. State of Wyoming lifted its position in shares of Root by 21.6% in the fourth quarter. State of Wyoming now owns 4,162 shares of the company’s stock worth $302,000 after purchasing an additional 740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Root by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock worth $357,000 after purchasing an additional 171 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Root in the fourth quarter valued at $248,000. 59.82% of the stock is 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.