Root, Inc. (NASDAQ:ROOT – Get Free Report) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $58.75.
A number of equities research analysts have recently weighed in on ROOT shares. Wells Fargo & Company restated a “cautious” rating on shares of Root in a research note on Monday, October 12th. Weiss Ratings raised shares of Root from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. TD Cowen cut shares of Root from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Keefe, Bruyette & Woods lowered 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. Finally, Jefferies Financial Group downgraded shares of Root from a “buy” rating to a “hold” rating and dropped their price objective for the company from $78.00 to $58.00 in a research note on Tuesday, August 11th.
Read Our Latest Stock Analysis on Root
Institutional Trading of Root
A number of hedge funds and other institutional investors have recently modified their holdings of ROOT. Sequoia Financial Advisors LLC bought a new position in shares of Root in the 2nd quarter valued at $219,000. Prosperitas Financial LLC boosted its holdings in shares of Root by 4.4% during the 2nd quarter. Prosperitas Financial LLC now owns 27,411 shares of the company’s stock valued at $1,533,000 after acquiring an additional 1,149 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Root during the 2nd quarter valued at $42,000. Quantinno Capital Management LP acquired a new stake in shares of Root during the 1st quarter valued at $920,000. Finally, First Trust Advisors LP grew its position in Root by 49.1% during the 1st quarter. First Trust Advisors LP now owns 68,050 shares of the company’s stock worth $3,006,000 after acquiring an additional 22,422 shares during the last quarter. Institutional investors own 59.82% of the company’s stock.
Root Stock Performance
NASDAQ:ROOT opened at $50.47 on Friday. The stock’s 50-day simple moving average is $51.54 and its 200 day simple moving average is $53.80. The firm has a market capitalization of $781.78 million, a PE ratio of 14.26 and a beta of 2.91. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.60. Root has a twelve month low of $40.91 and a twelve month high of $91.00.
Root (NASDAQ:ROOT – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.66. The firm had revenue of $389.20 million for the quarter, compared to analysts’ expectations of $395.14 million. Root had a return on equity of 19.72% and a net margin of 3.78%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. On average, analysts anticipate that Root will post 4.46 EPS for the current fiscal year.
About Root
Root, Inc (NASDAQ:ROOT) is a technology-driven insurance company that provides primarily personal automobile insurance. Its platform uses mobile technology and telematics, including driving data collected through a smartphone application, to assess driving behavior and help determine personalized insurance pricing.
Customers can obtain quotes, manage policies, submit claims and access insurance documents through Root’s mobile app and online platform. The company’s product offering has centered on usage-based auto insurance, with coverage and availability varying by state and applicable regulatory requirements.
Root was founded in 2015 by Alex Timm and Dan Mayer and is headquartered in Columbus, Ohio.
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