Root, Inc. (NASDAQ:ROOT) Given Average Recommendation of “Moderate Buy” by Analysts

Root, Inc. (NASDAQ:ROOT) has been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $88.33.

Several brokerages recently issued reports on ROOT. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a report on Sunday, March 2nd. UBS Group lifted their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Finally, Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd.

Insider Buying and Selling

In other Root news, Director Doug Ulman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the director now owns 6,201 shares of the company’s stock, valued at $1,085,175. This trade represents a 24.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On Root

Several hedge funds have recently modified their holdings of ROOT. T. Rowe Price Investment Management Inc. bought a new position in Root during the fourth quarter worth $29,661,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Root by 163.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock worth $9,286,000 after purchasing an additional 79,317 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Root by 41.8% during the 4th quarter. Renaissance Technologies LLC now owns 263,515 shares of the company’s stock worth $19,129,000 after purchasing an additional 77,699 shares during the period. Vanguard Group Inc. raised its position in shares of Root by 16.2% during the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock valued at $38,250,000 after buying an additional 73,413 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Root in the fourth quarter valued at about $3,834,000. 59.82% of the stock is owned by institutional investors.

Root Stock Performance

Shares of ROOT stock opened at $151.11 on Thursday. Root has a 1-year low of $34.04 and a 1-year high of $181.14. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -122.85 and a beta of 2.48. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The stock’s fifty day simple moving average is $119.17 and its 200-day simple moving average is $84.13.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS 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 firm had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. On average, sell-side analysts predict that Root will post -0.08 earnings per share 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.