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

Root, Inc. (NASDAQ:ROOT) has been given a consensus rating of “Hold” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $39.50.

ROOT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $70.00 price objective (up from $22.00) on shares of Root in a research report on Wednesday, April 24th. Jefferies Financial Group upgraded shares of Root from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $40.00 in a research report on Friday, March 1st. Citigroup upped their price objective on shares of Root from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Wells Fargo & Company increased their target price on shares of Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, JMP Securities increased their target price on shares of Root from $15.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 1st.

Root Stock Performance

Shares of NASDAQ ROOT opened at $56.29 on Monday. The company’s fifty day moving average price is $55.31 and its 200 day moving average price is $25.67. Root has a 1 year low of $4.11 and a 1 year high of $86.57. The company has a market capitalization of $821.83 million, a PE ratio of -7.24 and a beta of 2.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.60 and a current ratio of 1.51.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.51) by $2.09. The company had revenue of $254.90 million during the quarter, compared to analysts’ expectations of $203.99 million. Root had a negative net margin of 17.61% and a negative return on equity of 62.36%. The firm’s revenue for the quarter was up 263.6% on a year-over-year basis. During the same period in the prior year, the business posted ($2.88) earnings per share. On average, research analysts predict that Root will post -6.59 earnings per share for the current year.

Institutional Investors Weigh In On Root

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in Root by 218,250.0% during the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock worth $42,000 after purchasing an additional 4,365 shares during the last quarter. Trexquant Investment LP acquired a new stake in Root during the third quarter worth about $309,000. Raymond James & Associates acquired a new stake in Root during the third quarter worth about $1,315,000. Cannell Capital LLC acquired a new stake in Root during the third quarter worth about $2,795,000. Finally, Barclays PLC increased its position in Root by 229,380.0% during the third quarter. Barclays PLC now owns 11,474 shares of the company’s stock worth $109,000 after purchasing an additional 11,469 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors and hedge funds.

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.