Root, Inc. (NASDAQ:ROOT) Receives $97.80 Consensus PT from Brokerages
by Tristan Rich · The Markets DailyShares of Root, Inc. (NASDAQ:ROOT – Get Free Report) have earned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $97.80.
Several analysts have commented on ROOT shares. Wells Fargo & Company decreased their price target on shares of Root from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $104.00 target price (down from $150.00) on shares of Root in a report on Thursday, February 26th. UBS Group decreased their target price on Root from $90.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. Finally, Wall Street Zen raised Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.
Check Out Our Latest Stock Report on Root
Institutional Trading of Root
Hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of Root by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 946,632 shares of the company’s stock valued at $68,376,000 after purchasing an additional 74,427 shares in the last quarter. XTX Topco Ltd raised its stake in Root by 33.3% during the fourth quarter. XTX Topco Ltd now owns 7,002 shares of the company’s stock valued at $506,000 after purchasing an additional 1,750 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Root during the fourth quarter valued at $1,018,000. Millennium Management LLC lifted its position in Root by 780.1% during the fourth quarter. Millennium Management LLC now owns 220,815 shares of the company’s stock valued at $15,949,000 after purchasing an additional 195,725 shares during the last quarter. Finally, Findell Capital Management LLC lifted its position in Root by 291.7% during the fourth quarter. Findell Capital Management LLC now owns 235,000 shares of the company’s stock valued at $16,974,000 after purchasing an additional 175,000 shares during the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.
Root Trading Down 2.1%
Shares of ROOT opened at $43.26 on Monday. The firm has a market cap of $673.13 million, a P/E ratio of 18.65 and a beta of 2.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 1.21. Root has a 1 year low of $42.51 and a 1 year high of $162.99. The company has a 50 day simple moving average of $54.24 and a two-hundred day simple moving average of $71.43.
Root (NASDAQ:ROOT – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.03 by $0.28. The firm had revenue of $397.00 million for the quarter, compared to the consensus estimate of $381.57 million. Root had a net margin of 2.58% and a return on equity of 15.34%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, equities analysts expect that Root will post -0.08 earnings per share for the current fiscal year.
About Root
Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.
The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.