UBS Group Cuts Root (NASDAQ:ROOT) Price Target to $52.00

Root (NASDAQ:ROOT) had its price target cut by UBS Group from $90.00 to $52.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

ROOT has been the subject of several other research reports. Wells Fargo & Company decreased their price target on Root from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Wall Street Zen upgraded Root from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $104.00 target price (down from $150.00) on shares of Root in a research report on Thursday, February 26th. Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $97.80.

Root Trading Down 0.1%

Shares of NASDAQ ROOT opened at $44.33 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.21 and a current ratio of 1.21. Root has a 52-week low of $43.58 and a 52-week high of $181.14. The stock has a market cap of $689.55 million, a P/E ratio of 19.11 and a beta of 2.84. The firm has a 50 day moving average price of $62.51 and a two-hundred day moving average price of $76.45.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.28. The business 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%.Root’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. As a group, equities analysts forecast that Root will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Root

A number of institutional investors and hedge funds have recently modified their holdings of ROOT. T. Rowe Price Investment Management Inc. increased its stake in shares of Root by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 946,632 shares of the company’s stock valued at $68,376,000 after acquiring an additional 74,427 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Root by 25.9% during the 3rd quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock worth $64,854,000 after purchasing an additional 149,064 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Root by 31.7% in the 4th quarter. Capital Research Global Investors now owns 654,252 shares of the company’s stock valued at $47,257,000 after buying an additional 157,654 shares during the period. American Century Companies Inc. grew its stake in shares of Root by 54.8% in the 2nd quarter. American Century Companies Inc. now owns 357,176 shares of the company’s stock valued at $45,708,000 after buying an additional 126,467 shares during the period. Finally, Geode Capital Management LLC increased its position in Root by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 310,967 shares of the company’s stock valued at $22,466,000 after buying an additional 12,238 shares in the last quarter. 59.82% of the stock is currently owned by institutional investors.

Root Company Profile

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.