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

Root, Inc. (NASDAQ:ROOT) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $88.33.

A number of research analysts have commented on the stock. UBS Group increased their price objective on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Scotiabank restated a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research note on Sunday, March 2nd.

Root Trading Up 10.9 %

NASDAQ:ROOT opened at $177.69 on Thursday. Root has a one year low of $34.04 and a one year high of $181.14. The business’s 50-day simple moving average is $116.19 and its 200 day simple moving average is $82.74. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -144.46 and a beta of 2.48.

Root (NASDAQ:ROOT) last announced its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. As a group, sell-side analysts predict that Root will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in Root by 12.0% in the fourth quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock valued at $543,000 after acquiring an additional 801 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Root by 69.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock worth $611,000 after purchasing an additional 3,459 shares during the period. State of Wyoming lifted its holdings in shares of Root by 21.6% in the 4th quarter. State of Wyoming now owns 4,162 shares of the company’s stock worth $302,000 after purchasing an additional 740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Root by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after purchasing an additional 171 shares during the period. Finally, Janus Henderson Group PLC acquired a new position in Root during the 4th quarter valued at approximately $248,000. Institutional investors and hedge funds 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.