Root, Inc. (NASDAQ:ROOT) Stock Has Consensus Price Target of $62.25

Shares of Root, Inc. (NASDAQ:ROOT) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $62.25.

ROOT has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Root from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their price objective on shares of Root from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Zacks Research raised Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Jefferies Financial Group lowered shares of Root from a “buy” rating to a “hold” rating and reduced their target price for the stock from $78.00 to $58.00 in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Root from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th.

Institutional Investors Weigh In On Root

Several institutional investors have recently made changes to their positions in ROOT. CoreCap Advisors LLC purchased a new stake in Root in the second quarter valued at about $42,000. Sequoia Financial Advisors LLC purchased a new position in Root in the 2nd quarter valued at about $219,000. Leonteq Securities AG acquired a new stake in Root in the 1st quarter worth about $332,000. Quantinno Capital Management LP purchased a new position in Root in the 1st quarter valued at $920,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Root during the 1st quarter worth $1,193,000. Institutional investors own 59.82% of the company’s stock.

Root Price Performance

Shares of Root stock opened at $47.40 on Monday. The stock has a market capitalization of $734.23 million, a P/E ratio of 13.39 and a beta of 2.92. Root has a one year low of $40.91 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $54.40 and its two-hundred day simple moving average is $53.47.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.66. Root had a net margin of 3.78% and a return on equity of 19.72%. The business had revenue of $389.20 million for the quarter, compared to analysts’ expectations of $395.14 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts forecast that Root will post 4.46 EPS for the current year.

Root Company Profile

Root, Inc is a technology-driven insurance company that primarily provides personal automobile insurance in the United States. The company uses a mobile application, data analytics and telematics to evaluate driving behavior and help determine individualized insurance pricing. Customers can use the app to obtain quotes, manage policies, access identification cards and file claims.

Root’s insurance products are designed around a digital, direct-to-consumer model intended to simplify the purchase and management of coverage.