Root, Inc. (NASDAQ:ROOT) Receives $41.89 Consensus PT from Analysts

Root, Inc. (NASDAQ:ROOT) has received an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.89.

ROOT has been the topic of a number of recent research reports. JMP Securities increased their target price on Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price target on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Jefferies Financial Group raised Root from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $40.00 in a report on Friday, March 1st. Cantor Fitzgerald raised Root from a “neutral” rating to an “overweight” rating and upped their price target for the company from $9.00 to $13.00 in a report on Thursday, February 22nd. Finally, Citigroup upped their price target on Root from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, February 23rd.

Root Price Performance

Shares of ROOT stock opened at $42.47 on Tuesday. The stock has a market cap of $632.80 million, a price-to-earnings ratio of -5.47 and a beta of 2.59. The business’s fifty day moving average is $56.76 and its 200 day moving average is $36.07. Root has a twelve month low of $5.70 and a twelve month high of $86.57. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.81.

Root (NASDAQ:ROOT) last released its earnings results on Tuesday, April 30th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($2.51) by $2.09. Root had a negative return on equity of 62.36% and a negative net margin of 17.61%. The firm had revenue of $254.90 million for the quarter, compared to analysts’ expectations of $203.99 million. During the same period in the prior year, the firm posted ($2.88) earnings per share. The company’s quarterly revenue was up 263.6% on a year-over-year basis. Research analysts expect that Root will post -4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Beth A. Birnbaum sold 1,735 shares of Root stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.67, for a total transaction of $75,767.45. Following the transaction, the director now directly owns 16,013 shares of the company’s stock, valued at approximately $699,287.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Beth A. Birnbaum sold 1,735 shares of Root stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.67, for a total transaction of $75,767.45. Following the transaction, the director now directly owns 16,013 shares of the company’s stock, valued at approximately $699,287.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Meyer Malka sold 13,300 shares of Root stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $60.58, for a total value of $805,714.00. Following the transaction, the insider now directly owns 43,107 shares in the company, valued at $2,611,422.06. The disclosure for this sale can be found here. Insiders own 11.71% of the company’s stock.

Institutional Trading of Root

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in Root by 218,250.0% during the 3rd quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after purchasing an additional 4,365 shares during the period. Barclays PLC raised its stake in Root by 229,380.0% during the 3rd quarter. Barclays PLC now owns 11,474 shares of the company’s stock valued at $109,000 after purchasing an additional 11,469 shares during the period. Corton Capital Inc. bought a new stake in Root during the 3rd quarter valued at approximately $120,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Root during the 3rd quarter valued at approximately $158,000. Finally, Jump Financial LLC bought a new stake in Root during the 4th quarter valued at approximately $234,000. Institutional investors own 59.82% of the company’s stock.

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.