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

Shares of Root, Inc. (NASDAQ:ROOT) have earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Four 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. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $59.13.

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of Root in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. Jefferies Financial Group cut their price objective on shares of Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald upgraded shares of Root to a “strong-buy” rating in a research note on Thursday, October 3rd.

Root Price Performance

Shares of NASDAQ:ROOT opened at $78.81 on Friday. The business has a fifty day simple moving average of $47.27 and a 200-day simple moving average of $52.50. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root has a 52 week low of $7.22 and a 52 week high of $118.15. The company has a market cap of $1.19 billion, a P/E ratio of -64.07 and a beta of 2.34.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $305.70 million during the quarter, compared to the consensus estimate of $272.77 million. During the same period in the previous year, the firm earned ($3.16) earnings per share. Root’s revenue for the quarter was up 165.1% on a year-over-year basis. Equities research analysts forecast that Root will post -1.2 EPS for the current year.

Insider Buying and Selling at Root

In other Root news, major shareholder Meyer Malka sold 50,959 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $84.78, for a total value of $4,320,304.02. Following the transaction, the insider now owns 102 shares in the company, valued at $8,647.56. The trade was a 99.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 244,905 shares of company stock valued at $20,247,819 in the last 90 days. 11.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently modified their holdings of ROOT. Tidal Investments LLC acquired a new stake in Root in the 1st quarter worth approximately $1,997,000. Driehaus Capital Management LLC bought a new stake in shares of Root during the 2nd quarter worth $9,154,000. Bank of New York Mellon Corp acquired a new position in Root in the 2nd quarter valued at $1,280,000. Hood River Capital Management LLC acquired a new position in Root in the 2nd quarter valued at $9,547,000. Finally, Venator Management LLC bought a new position in Root in the 2nd quarter worth $516,000. 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.