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

Root, Inc. (NASDAQ:ROOTGet Free Report) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $41.89.

A number of research firms have weighed in on ROOT. TD Cowen raised their price target on Root from $11.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. Wells Fargo & Company raised their price target on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upgraded Root from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $40.00 in a research note on Friday, March 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $80.00 price target (up from $70.00) on shares of Root in a research note on Tuesday, May 7th. Finally, JMP Securities lifted their target price on Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st.

Read Our Latest Stock Analysis on Root

Insider Buying and Selling

In related news, major shareholder Meyer Malka sold 13,300 shares of Root stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $60.58, for a total transaction of $805,714.00. Following the completion of the sale, the insider now directly owns 43,107 shares of the company’s stock, valued at approximately $2,611,422.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Meyer Malka sold 13,300 shares of Root stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $60.58, for a total transaction of $805,714.00. Following the completion of the sale, the insider now directly owns 43,107 shares of the company’s stock, valued at approximately $2,611,422.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Beth A. Birnbaum sold 1,735 shares of Root stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.67, for a total value of $75,767.45. Following the sale, the director now directly owns 16,013 shares of the company’s stock, valued at $699,287.71. The disclosure for this sale can be found here. 11.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Root

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC acquired a new position in Root in the 1st quarter valued at $1,997,000. Price T Rowe Associates Inc. MD acquired a new position in Root in the 1st quarter valued at $434,000. Quantbot Technologies LP acquired a new position in Root in the 1st quarter valued at $431,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Root in the 1st quarter valued at $1,171,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Root in the 1st quarter valued at $293,000. 59.82% of the stock is owned by institutional investors and hedge funds.

Root Stock Down 1.9 %

NASDAQ:ROOT opened at $44.18 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $658.28 million, a PE ratio of -5.69 and a beta of 2.59. Root has a 52-week low of $7.22 and a 52-week high of $86.57. The stock has a 50-day simple moving average of $55.48 and a 200 day simple moving average of $36.93.

Root (NASDAQ:ROOTGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.51) by $2.09. The business had revenue of $254.90 million during the quarter, compared to the consensus estimate of $203.99 million. Root had a negative return on equity of 62.36% and a negative net margin of 17.61%. Root’s quarterly revenue was up 263.6% on a year-over-year basis. During the same period last year, the company earned ($2.88) earnings per share. On average, sell-side analysts expect that Root will post -4.81 EPS for the current fiscal year.

About Root

(Get Free Report

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.

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Analyst Recommendations for Root (NASDAQ:ROOT)

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