Root, Inc. (NASDAQ:ROOT) Receives $125.80 Consensus Price Target from Brokerages

Shares of Root, Inc. (NASDAQ:ROOT) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $125.80.

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Root from $89.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. UBS Group reissued a “neutral” rating and set a $105.00 target price (down from $140.00) on shares of Root in a research report on Monday, August 18th. Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Root in a research note on Tuesday. Finally, Jefferies Financial Group decreased their price objective on Root from $172.00 to $138.00 and set a “buy” rating for the company in a report on Monday, August 11th.

Insiders Place Their Bets

In related news, insider Mahtiyar Bonakdarpour sold 5,750 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $89.74, for a total value of $516,005.00. Following the completion of the sale, the insider directly owned 274,226 shares of the company’s stock, valued at approximately $24,609,041.24. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alexander E. Timm sold 10,861 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $88.88, for a total transaction of $965,325.68. Following the completion of the sale, the chief executive officer owned 157,748 shares of the company’s stock, valued at approximately $14,020,642.24. The trade was a 6.44% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROOT. Vanguard Group Inc. boosted its stake in shares of Root by 25.9% in the 3rd quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock worth $64,854,000 after buying an additional 149,064 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Root by 66.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 679,696 shares of the company’s stock worth $90,699,000 after acquiring an additional 271,097 shares during the period. American Century Companies Inc. lifted its holdings in Root by 54.8% during the second quarter. American Century Companies Inc. now owns 357,176 shares of the company’s stock worth $45,708,000 after acquiring an additional 126,467 shares during the period. Ensign Peak Advisors Inc purchased a new position in Root in the second quarter worth $33,829,000. Finally, Invesco Ltd. grew its stake in Root by 5,575.0% in the 1st quarter. Invesco Ltd. now owns 256,792 shares of the company’s stock valued at $34,266,000 after purchasing an additional 252,267 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Up 3.2%

ROOT stock opened at $81.50 on Tuesday. The stock’s 50 day simple moving average is $83.06 and its 200 day simple moving average is $105.96. The company has a market cap of $1.26 billion, a P/E ratio of 24.62 and a beta of 2.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.23 and a current ratio of 1.23. Root has a fifty-two week low of $68.08 and a fifty-two week high of $181.14.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. Root had a return on equity of 23.36% and a net margin of 3.80%.The firm had revenue of $387.80 million during the quarter, compared to the consensus estimate of $363.06 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. On average, research analysts expect that Root will post -0.08 earnings per share for the current fiscal year.

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.