Brokerages Set Root, Inc. (NASDAQ:ROOT) PT at $122.17

Shares of Root, Inc. (NASDAQ:ROOT) have received an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $122.17.

ROOT has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Root from $105.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday. Scotiabank reiterated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Jefferies Financial Group increased their target price on Root from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. UBS Group increased their target price on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods increased their target price on Root from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday.

Insider Transactions at Root

In related news, CEO Alexander E. Timm sold 1,144 shares of Root stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the sale, the chief executive officer now directly owns 161,625 shares in the company, valued at $21,659,366.25. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Meyer Malka sold 225,000 shares of Root stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total value of $30,557,250.00. Following the completion of the transaction, the insider now owns 503,800 shares in the company, valued at $68,421,078. This trade represents a 30.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,659 shares of company stock worth $31,748,719. 11.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Root

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 acquiring an additional 171 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Root by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company’s stock worth $391,000 after purchasing an additional 255 shares during the period. Legal & General Group Plc lifted its holdings in shares of Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company’s stock worth $577,000 after purchasing an additional 273 shares during the period. KBC Group NV acquired a new stake in shares of Root during the first quarter worth about $48,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Trading Up 4.2%

NASDAQ ROOT opened at $147.42 on Friday. Root has a 12 month low of $34.04 and a 12 month high of $181.14. The stock has a market cap of $2.24 billion, a P/E ratio of -119.85 and a beta of 2.40. The stock’s fifty day moving average price is $137.35 and its 200-day moving average price is $106.25. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.45 by $0.62. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $349.40 million for the quarter, compared to analysts’ expectations of $305.24 million. During the same period last year, the firm posted ($0.42) earnings per share. Root’s revenue was up 37.2% compared to the same quarter last year. As a group, equities analysts forecast that Root will post -0.08 EPS 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.