Root (NASDAQ:ROOT) Trading 6% Higher

Root, Inc. (NASDAQ:ROOT) was up 6% during trading on Tuesday . The stock traded as high as $83.66 and last traded at $83.00. Approximately 96,042 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 661,291 shares. The stock had previously closed at $78.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ROOT shares. 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. Keefe, Bruyette & Woods raised Root from a “market perform” rating to an “outperform” rating and raised their price target for the company from $10.00 to $22.00 in a report on Monday, February 26th. TD Cowen started coverage on Root in a report on Wednesday, January 10th. They set a “market perform” rating for the company. Jefferies Financial Group raised Root from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $40.00 in a report on Friday, March 1st. Finally, Citigroup raised their price target on Root from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. 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 company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock has a market cap of $1.12 billion, a P/E ratio of -7.51 and a beta of 2.86. The firm has a 50-day simple moving average of $37.70 and a two-hundred day simple moving average of $19.58.

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%. Equities research analysts expect that Root, Inc. will post -7.87 earnings per share for the current fiscal 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 shares of Root by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,268 shares of the company’s stock worth $212,000 after purchasing an additional 1,778 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Root by 19.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 16,451 shares of the company’s stock worth $172,000 after purchasing an additional 2,705 shares during the period. Vanguard Group Inc. increased its position in shares of Root by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 392,553 shares of the company’s stock worth $4,114,000 after purchasing 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.