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

Shares of Root, Inc. (NASDAQ:ROOT) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $88.33.

Several research analysts have issued reports on ROOT shares. UBS Group lifted their target price on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Root in a report on Sunday, March 2nd. Citizens Jmp cut shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a report on Friday, November 22nd.

Root Stock Up 2.3 %

Shares of Root stock opened at $154.24 on Thursday. 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 50-day moving average of $111.11 and a 200 day moving average of $79.88. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -125.40 and a beta of 2.48. Root has a 1 year low of $34.04 and a 1 year high of $158.06.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. As a group, sell-side analysts anticipate that Root will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Root

A number of institutional investors and hedge funds have recently made changes to their positions in ROOT. Dynamic Technology Lab Private Ltd purchased a new position in shares of Root in the third quarter worth approximately $539,000. Quantbot Technologies LP boosted its holdings in shares of Root by 120.0% in the third quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock worth $561,000 after buying an additional 8,092 shares during the last quarter. FMR LLC boosted its holdings in shares of Root by 966.2% in the third quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after buying an additional 16,348 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Root by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after buying an additional 2,889 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Root by 15.2% in the third quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock worth $370,000 after buying an additional 1,288 shares during the last quarter. Hedge funds and other institutional investors 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.