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

Root, Inc. (NASDAQ:ROOT) has earned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $97.80.

ROOT has been the topic of several analyst reports. Zacks Research raised shares of Root from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wells Fargo & Company dropped their price target on shares of Root from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $104.00 price target (down from $150.00) on shares of Root in a report on Thursday, February 26th. Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Finally, UBS Group lowered their price objective on shares of Root from $90.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday.

Root Price Performance

ROOT opened at $45.21 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $63.65 and its 200 day simple moving average is $77.01. The firm has a market cap of $703.47 million, a price-to-earnings ratio of 19.49 and a beta of 2.84. Root has a 1 year low of $44.02 and a 1 year high of $181.14.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.28. The firm had revenue of $397.00 million during the quarter, compared to the consensus estimate of $381.57 million. Root had a return on equity of 15.34% and a net margin of 2.58%.The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, analysts predict that Root will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in shares of Root in the 3rd quarter worth approximately $50,000. Russell Investments Group Ltd. raised its holdings in shares of Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after acquiring an additional 614 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Root by 28.5% during the second quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock valued at $139,000 after acquiring an additional 241 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Root by 237.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after acquiring an additional 899 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Root in the third quarter worth $144,000. Institutional investors own 59.82% of the company’s stock.

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.