Root (NASDAQ:ROOT) Stock Price Down 8.5% – Time to Sell?

Root, Inc. (NASDAQ:ROOT)’s stock price was down 8.5% during trading on Tuesday . The stock traded as low as $121.01 and last traded at $116.75. Approximately 117,661 shares were traded during trading, a decline of 77% from the average daily volume of 511,968 shares. The stock had previously closed at $127.58.

Analyst Ratings Changes

Several analysts have weighed in on ROOT shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $90.00 target price (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th. JMP Securities downgraded Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Scotiabank reiterated a “sector perform” rating on shares of Root in a research report on Sunday. UBS Group raised their price target on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Citizens Jmp lowered shares of Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Root has a consensus rating of “Moderate Buy” and a consensus target price of $77.83.

Root Stock Up 3.9 %

The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -107.76 and a beta of 2.58. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a 50 day moving average price of $95.30 and a two-hundred day moving average price of $72.11.

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

Hedge Funds Weigh In On Root

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after acquiring an additional 16,348 shares during the last quarter. Barclays PLC raised its holdings in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock valued at $529,000 after buying an additional 10,993 shares during the last quarter. Versor Investments LP acquired a new position in shares of Root during the third quarter worth approximately $216,000. Nordea Investment Management AB grew its holdings in Root by 7.3% in the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock worth $1,497,000 after buying an additional 1,416 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Root during the third quarter valued at $428,000. 59.82% of the stock is currently owned by institutional investors.

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.