Root, Inc. (NASDAQ:ROOT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $21.88.

Several research firms recently weighed in on ROOT. Cantor Fitzgerald upgraded Root from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $13.00 in a research note on Thursday, February 22nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $70.00 price target (up previously from $22.00) on shares of Root in a research report on Wednesday, April 24th. Jefferies Financial Group upgraded Root from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $40.00 in a research note on Friday, March 1st. Wells Fargo & Company upped their price target on Root from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Citigroup boosted their price objective on shares of Root from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd.

Root Stock Up 2.8 %

Root stock opened at $64.40 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. Root has a twelve month low of $3.90 and a twelve month high of $85.99. The firm has a market capitalization of $940.24 million, a P/E ratio of -6.30 and a beta of 2.86. The stock’s fifty day simple moving average is $50.06 and its 200-day simple moving average is $23.88.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($1.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.49) by $0.85. The business had revenue of $194.80 million during the quarter, compared to analysts’ expectations of $108.00 million. Root had a negative net margin of 32.40% and a negative return on equity of 73.62%. As a group, equities analysts expect that Root will post -7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Root

Several institutional investors have recently modified their holdings of the company. Cannell Capital LLC grew its holdings in Root by 144.0% during the 4th quarter. Cannell Capital LLC now owns 717,043 shares of the company’s stock valued at $7,515,000 after buying an additional 423,120 shares during the last quarter. Raymond James & Associates acquired a new stake in Root during the third quarter worth approximately $1,315,000. HST Ventures LLC raised its holdings in Root by 21.9% in the 4th quarter. HST Ventures LLC now owns 51,890 shares of the company’s stock valued at $544,000 after acquiring an additional 9,317 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Root by 43.4% during the 4th quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock worth $488,000 after purchasing an additional 14,096 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Root by 37.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock worth $360,000 after purchasing an additional 9,390 shares during the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

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.