Root, Inc. (NASDAQ:ROOT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $55.63.

ROOT has been the subject of several research reports. UBS Group cut their price target on Root from $71.00 to $61.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $82.00 target price (down previously from $88.00) on shares of Root in a research report on Friday, August 16th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of Root in a research report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on shares of Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald upgraded shares of Root to a “strong-buy” rating in a research note on Thursday, October 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Root in the first quarter valued at approximately $1,171,000. Tidal Investments LLC bought a new position in shares of Root in the 1st quarter worth $1,997,000. Quantbot Technologies LP purchased a new stake in shares of Root during the 1st quarter valued at $431,000. Driehaus Capital Management LLC bought a new stake in shares of Root during the 2nd quarter worth $9,154,000. Finally, Bank of New York Mellon Corp purchased a new position in Root in the second quarter worth $1,280,000. Institutional investors own 59.82% of the company’s stock.

Root Stock Down 2.6 %

ROOT opened at $37.81 on Monday. Root has a twelve month low of $7.22 and a twelve month high of $86.57. The company’s 50-day moving average price is $40.70 and its two-hundred day moving average price is $51.98. The stock has a market cap of $567.15 million, a price-to-earnings ratio of -6.59 and a beta of 2.53. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.98.

Root (NASDAQ:ROOT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.74) by $1.22. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The company had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $264.80 million. During the same quarter in the previous year, the firm posted ($2.55) EPS. Root’s revenue was up 286.6% on a year-over-year basis. As a group, equities analysts expect that Root will post -2.13 earnings per share for the current year.

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.