UBS Group Boosts Root (NASDAQ:ROOT) Price Target to $67.00

Root (NASDAQ:ROOT) had its price target boosted by UBS Group from $61.00 to $67.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential downside of 5.61% from the company’s current price.

ROOT has been the subject of several other reports. 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. Cantor Fitzgerald raised shares of Root to a “strong-buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $82.00 target price (down from $88.00) on shares of Root in a research report on Friday, August 16th. Jefferies Financial Group lowered their price target on Root from $84.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of Root in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Root Trading Up 0.0 %

Shares of ROOT opened at $70.98 on Monday. Root has a 1-year low of $7.22 and a 1-year high of $118.15. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -58.01 and a beta of 2.34. The firm has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $51.38. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39.

Root (NASDAQ:ROOT) last announced its earnings results on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of ($0.61) by $1.96. The firm had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm’s revenue for the quarter was up 165.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.16) EPS. Equities analysts forecast that Root will post -1.2 EPS for the current fiscal year.

Insider Activity

In other Root news, major shareholder Meyer Malka sold 50,959 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $84.78, for a total value of $4,320,304.02. Following the completion of the transaction, the insider now directly owns 102 shares of the company’s stock, valued at $8,647.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 11.71% of the company’s stock.

Institutional Trading of Root

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Root during the 3rd quarter worth approximately $216,000. SG Americas Securities LLC acquired a new stake in Root during the third quarter worth about $412,000. Algert Global LLC bought a new position in shares of Root during the second quarter valued at approximately $288,000. Driehaus Capital Management LLC acquired a new stake in shares of Root during the 2nd quarter worth approximately $9,154,000. Finally, Alpha DNA Investment Management LLC lifted its holdings in shares of Root by 5.5% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 9,306 shares of the company’s stock worth $480,000 after purchasing an additional 486 shares during the last quarter. Institutional investors 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.