Root (NASDAQ:ROOT) Reaches New 52-Week High – Should You Buy?

Shares of Root, Inc. (NASDAQ:ROOT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $142.72 and last traded at $138.53, with a volume of 207324 shares. The stock had previously closed at $135.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of Root in a research note on Sunday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $90.00 price objective (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. JMP Securities lowered Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a research note on Sunday. Finally, Citizens Jmp cut Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Root currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.83.

Root Stock Performance

The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $2.16 billion, a P/E ratio of -116.06 and a beta of 2.58. The firm has a 50 day moving average price of $96.49 and a 200-day moving average price of $72.70.

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

Institutional Trading of Root

Several hedge funds have recently added to or reduced their stakes in ROOT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Root by 69.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock valued at $611,000 after buying an additional 3,459 shares in the last quarter. State of Wyoming grew its holdings in shares of Root by 21.6% in the 4th quarter. State of Wyoming now owns 4,162 shares of the company’s stock worth $302,000 after purchasing an additional 740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Root by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock worth $357,000 after purchasing an additional 171 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Root during the 4th quarter worth about $248,000. Finally, Deutsche Bank AG lifted its holdings in Root by 47.4% during 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 own 59.82% of the company’s stock.

Root Company Profile

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.