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

Root, Inc. (NASDAQ:ROOT) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $75.00.

A number of research firms recently commented on ROOT. UBS Group lifted their price target on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Wells Fargo & Company lifted their target price on Root from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. JMP Securities downgraded Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $90.00 target price (up from $82.00) on shares of Root in a research note on Tuesday, November 5th.

Root Stock Down 9.9 %

Shares of Root stock opened at $100.21 on Friday. The business has a 50-day moving average of $90.52 and a 200-day moving average of $69.13. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $1.51 billion, a PE ratio of -81.47 and a beta of 2.58. Root has a 1-year low of $11.51 and a 1-year high of $141.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock valued at $31,000 after acquiring an additional 365 shares during the period. Point72 DIFC Ltd bought a new stake in Root in the third quarter valued at about $33,000. KLP Kapitalforvaltning AS bought a new stake in Root in the fourth quarter valued at about $94,000. Aquatic Capital Management LLC grew its stake in Root by 92.1% during the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after buying an additional 737 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Root during the fourth quarter worth about $154,000. Institutional investors and hedge funds 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.