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

Root, Inc. (NASDAQ:ROOT) has received a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $93.20.

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on Root from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their price target on Root from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings cut Root from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.

Institutional Trading of Root

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after purchasing an additional 614 shares during the period. Advisory Services Network LLC bought a new stake in Root during the third quarter valued at about $144,000. Tower Research Capital LLC TRC grew its holdings in Root by 237.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock valued at $164,000 after purchasing an additional 899 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Root during the third quarter valued at about $194,000. Finally, SBI Securities Co. Ltd. grew its holdings in Root by 181.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,728 shares of the company’s stock valued at $197,000 after purchasing an additional 1,760 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Up 0.3%

ROOT stock opened at $54.90 on Friday. Root has a 1-year low of $40.91 and a 1-year high of $154.86. The business has a fifty day moving average price of $53.33 and a 200-day moving average price of $60.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $869.07 million, a P/E ratio of 16.44 and a beta of 2.87.

Root (NASDAQ:ROOT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $0.84 by $1.25. Root had a return on equity of 19.97% and a net margin of 3.58%.The firm had revenue of $393.50 million during the quarter, compared to analysts’ expectations of $398.16 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that Root will post 2.15 earnings per share for the current fiscal year.

Root Company Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.