Root, Inc. (NASDAQ:ROOT) Given Average Rating of “Hold” by Brokerages

Shares of Root, Inc. (NASDAQ:ROOT) have received an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.78.

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $82.00 price target (down from $88.00) on shares of Root in a research note on Friday, August 16th. UBS Group decreased their target price on shares of Root from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Finally, TD Cowen upped their price target on Root from $11.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th.

Root Price Performance

NASDAQ:ROOT opened at $43.36 on Friday. The firm has a market cap of $646.06 million, a P/E ratio of -5.58 and a beta of 2.57. The stock has a 50 day moving average of $56.42 and a two-hundred day moving average of $52.88. Root has a 12 month low of $7.22 and a 12 month high of $86.57. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.98.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) 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 firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. During the same period in the previous year, the business earned ($2.55) earnings per share. The firm’s revenue for the quarter was up 286.6% on a year-over-year basis. On average, analysts expect that Root will post -2.13 earnings per share for the current fiscal year.

Insider Transactions at Root

In related news, Director Beth A. Birnbaum sold 1,735 shares of Root stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.67, for a total value of $75,767.45. Following the completion of the sale, the director now owns 16,013 shares in the company, valued at approximately $699,287.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On Root

Several hedge funds have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in shares of Root in the fourth quarter worth $234,000. Algert Global LLC acquired a new position in Root during the 2nd quarter worth $288,000. Sequoia Financial Advisors LLC purchased a new stake in Root during the 1st quarter worth about $293,000. Vanguard Personalized Indexing Management LLC increased its holdings in Root by 76.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after purchasing an additional 2,576 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Root in the 1st quarter valued at about $431,000. Institutional investors and hedge funds 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.