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

Shares of Root, Inc. (NASDAQ:ROOT) have earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Four research 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 target among analysts that have issued ratings on the stock in the last year is $59.13.

A number of equities research analysts recently weighed in on ROOT shares. Cantor Fitzgerald raised Root to a “strong-buy” rating in a research report on Thursday, October 3rd. UBS Group lifted their price objective on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company upped their target price on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $90.00 price target on shares of Root in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $90.00 price target (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th.

Insider Buying and Selling at Root

In other news, major shareholder Meyer Malka sold 75,839 shares of Root stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $81.21, for a total value of $6,158,885.19. Following the completion of the transaction, the insider now owns 43,107 shares in the company, valued at approximately $3,500,719.47. The trade was a 63.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 244,905 shares of company stock worth $20,247,819 over the last three months. Company insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On Root

A number of hedge funds and other institutional investors have recently bought and sold shares of ROOT. MetLife Investment Management LLC increased its position in Root by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after acquiring an additional 2,889 shares in the last quarter. Versor Investments LP bought a new stake in shares of Root during the third quarter valued at approximately $216,000. Algert Global LLC acquired a new stake in shares of Root in the second quarter valued at approximately $288,000. Vanguard Personalized Indexing Management LLC increased its holdings 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 valued at $306,000 after purchasing an additional 2,576 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Root by 15.2% in the 3rd quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock worth $370,000 after purchasing an additional 1,288 shares during the last quarter. 59.82% of the stock is owned by institutional investors and hedge funds.

Root Stock Up 4.3 %

ROOT opened at $78.81 on Friday. The business has a 50 day moving average of $47.27 and a 200-day moving average of $52.50. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -64.07 and a beta of 2.34. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. Root has a 1-year low of $7.22 and a 1-year high of $118.15.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $1.96. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. During the same period in the prior year, the firm earned ($3.16) EPS. The business’s revenue was up 165.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Root will post -1.2 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.