Root (NASDAQ:ROOT) Trading 6% Higher

Root, Inc. (NASDAQ:ROOT)’s stock price shot up 6% on Tuesday . The company traded as high as $83.66 and last traded at $83.00. 96,042 shares were traded during trading, a decline of 85% from the average session volume of 661,291 shares. The stock had previously closed at $78.27.

Analysts Set New Price Targets

A number of research firms have weighed in on ROOT. Keefe, Bruyette & Woods raised Root from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $10.00 to $22.00 in a research report on Monday, February 26th. Citigroup increased their price objective on Root from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Cantor Fitzgerald raised Root from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $13.00 in a report on Thursday, February 22nd. TD Cowen started coverage on Root in a report on Wednesday, January 10th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company increased their price objective on Root from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Root Stock Down 4.2 %

The firm has a fifty day simple moving average of $37.70 and a 200-day simple moving average of $19.58. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -7.51 and a beta of 2.86. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.60.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($1.64) earnings per share for the quarter, topping the consensus estimate of ($2.49) by $0.85. The firm had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $108.00 million. Root had a negative return on equity of 73.62% and a negative net margin of 32.40%. As a group, sell-side analysts expect that Root, Inc. will post -7.87 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Root by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,268 shares of the company’s stock worth $212,000 after buying an additional 1,778 shares during the period. Goldman Sachs Group Inc. increased its position in Root by 19.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 16,451 shares of the company’s stock worth $172,000 after buying an additional 2,705 shares during the period. Vanguard Group Inc. increased its position in Root by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 392,553 shares of the company’s stock worth $4,114,000 after buying an additional 3,119 shares during the period. Citigroup Inc. increased its position in shares of Root by 218,250.0% in the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock worth $42,000 after purchasing an additional 4,365 shares during the period. Finally, UBS Group AG increased its position in shares of Root by 134.8% in the fourth quarter. UBS Group AG now owns 7,897 shares of the company’s stock worth $35,000 after purchasing an additional 4,533 shares during the period. Institutional investors own 59.82% of the company’s stock.

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.