Root (NASDAQ:ROOT) Earns Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their outperform rating on shares of Root (NASDAQ:ROOT) in a research report released on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $82.00 price objective on the stock, down from their previous price objective of $88.00.

Several other equities research analysts have also recently issued reports on the company. JMP Securities raised their price objective on Root from $15.00 to $90.00 and gave the stock a market outperform rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their target price on Root from $64.00 to $78.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. UBS Group cut their target price on Root from $71.00 to $61.00 and set a neutral rating on the stock in a research report on Tuesday, August 13th. Finally, TD Cowen increased their target price on Root from $11.00 to $51.00 and gave the stock a hold rating in a research report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $47.78.

Root Price Performance

ROOT stock opened at $49.00 on Friday. Root has a 52-week low of $7.22 and a 52-week high of $86.57. The stock’s fifty day simple moving average is $56.31 and its 200-day simple moving average is $50.55. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $730.10 million, a price-to-earnings ratio of -6.31 and a beta of 2.57.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.74) by $1.22. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The business had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $264.80 million. During the same quarter last year, the firm earned ($2.55) earnings per share. The business’s revenue was up 286.6% on a year-over-year basis. Equities research analysts expect that Root will post -2.63 EPS for the current 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 stock was sold at an average price of $43.67, for a total value of $75,767.45. Following the transaction, the director now directly owns 16,013 shares of the company’s stock, valued at $699,287.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ROOT. Jump Financial LLC purchased a new position in Root in the fourth quarter valued at about $234,000. Algert Global LLC acquired a new position in shares of Root in the second quarter worth about $288,000. Sequoia Financial Advisors LLC acquired a new position in shares of Root in the first quarter worth about $293,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Root by 76.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after acquiring an additional 2,576 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Root by 37.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock worth $360,000 after acquiring an additional 9,390 shares in the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.

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.