Root, Inc. (NASDAQ:ROOT) receives an average recommendation of “Hold” from the brokerage

Shares of Root, Inc. (NASDAQ:ROOT – Get Free Report ) has been assigned an average rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $47.78.

ROOT has been the subject of several analyst reports. TD Cowen boosted their price objective on shares of Root from $11.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $82.00 target price (down from $88.00) on shares of Root in a research note on Friday, August 16th. Finally, UBS Group cut their price target on Root from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th.

Check out our latest review on Root

Root stock performance

Root stock opened at $43.36 on Friday. Root has a fifty-two week low of $7.22 and a fifty-two week high of $86.57. The company has a market cap of $646.06 million, a price-to-earnings ratio of -5.58 and a beta of 2.57. The stock has a fifty day moving average of $56.42 and a two hundred day moving average of $52.88. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.43, and a current ratio of 1.43.

Root (NASDAQ:ROOT – Get Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.74) by $1.22. The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The company’s quarterly revenue was up 286.6% compared to the same quarter last year. In the same quarter last year, the business posted EPS of ($2.55). On average, analysts anticipate that Root will post -2.13 EPS for the current fiscal year.

Insider buying and selling at Root

In other Root news, Director Beth A. Birnbaum sold 1,735 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $43.67, for a total transaction of $75,767.45. Following the completion of the sale, the director now owns 16,013 shares of the company’s stock, valued at $699,287.71. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. 11.71% of shares are owned by company insiders.

Root Institutional Trading

A number of institutional investors have recently modified their holdings of the company. Alpha DNA Investment Management LLC boosted its position in Root by 5.5% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,306 shares of the company’s stock worth $480,000 after buying an additional 486 shares during the period respective. Vanguard Personalized Indexing Management LLC grew its stake in Root by 76.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock valued at $306,000 after buying an additional 2,576 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Root in the first quarter valued at about $293,000. Algert Global LLC purchased a new stake in shares of Root during the second quarter valued at approximately $288,000. Finally, Quantbot Technologies LP purchased a new position in Root in the 1st quarter worth approximately $431,000. Hedge funds and other institutional investors own 59.82% of the company’s shares.

Root Company Profile

(Get a free report

Root, Inc provides insurance products and services in the United States. The company offers auto insurance products to homeowners and renters. 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.

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