Root, Inc. (NASDAQ:ROOT) Receives $88.33 Average Target Price from Brokerages

Root, Inc. (NASDAQ:ROOT) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $88.33.

ROOT has been the subject of several analyst reports. Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Wells Fargo & Company restated a “buy” rating on shares of Root in a report on Sunday, March 2nd. Finally, UBS Group raised their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th.

Root Price Performance

ROOT opened at $160.26 on Thursday. The stock has a fifty day simple moving average of $114.28 and a two-hundred day simple moving average of $81.48. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -130.29 and a beta of 2.48. Root has a 12-month low of $34.04 and a 12-month high of $165.23.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Research analysts predict that Root will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Root

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in shares of Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after buying an additional 365 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Root during the third quarter valued at $33,000. KLP Kapitalforvaltning AS purchased a new position in Root in the fourth quarter worth about $94,000. Aquatic Capital Management LLC boosted its position in Root by 92.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after purchasing an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Root in the fourth quarter worth about $154,000. 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.