Root, Inc. (NASDAQ:ROOT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $77.83.

ROOT has been the subject of several recent research reports. UBS Group increased their price target on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $90.00 target price (up from $82.00) on shares of Root in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of Root from $80.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday. JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Finally, Citizens Jmp cut shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Root by 69.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock worth $611,000 after purchasing an additional 3,459 shares during the last quarter. State of Wyoming boosted its stake in Root by 21.6% in the fourth quarter. State of Wyoming now owns 4,162 shares of the company’s stock valued at $302,000 after buying an additional 740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Root by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after acquiring an additional 171 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Root during the 4th quarter valued at approximately $248,000. Finally, Deutsche Bank AG lifted its stake in Root by 47.4% in the 4th quarter. Deutsche Bank AG now owns 7,818 shares of the company’s stock valued at $568,000 after purchasing an additional 2,513 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Trading Up 25.6 %

ROOT opened at $123.95 on Friday. The stock has a market capitalization of $1.87 billion, a P/E ratio of -100.77 and a beta of 2.58. The firm’s fifty day simple moving average is $92.96 and its 200 day simple moving average is $70.57. Root has a 12 month low of $23.04 and a 12 month high of $141.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The business had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. As a group, research analysts anticipate that Root will post -0.08 EPS for the current fiscal year.

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.