Root, Inc. (NASDAQ:ROOT) Receives Average Rating of “Hold” from Brokerages

Shares of Root, Inc. (NASDAQ:ROOT) have received a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $121.60.

ROOT has been the topic of several recent analyst reports. Wells Fargo & Company set a $75.00 price target on Root and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded Root from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Root in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Root in a report on Monday, December 29th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Root during the 3rd quarter valued at about $50,000. Russell Investments Group Ltd. lifted its stake in Root by 511.7% in the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after acquiring an additional 614 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Root by 28.5% in the second quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock valued at $139,000 after acquiring an additional 241 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Root by 237.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after acquiring an additional 899 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Root during the 3rd quarter worth $144,000. 59.82% of the stock is owned by institutional investors and hedge funds.

Root Stock Down 2.5%

ROOT stock opened at $68.41 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $1.06 billion, a P/E ratio of 20.67 and a beta of 2.70. Root has a 52-week low of $68.08 and a 52-week high of $181.14. The company’s 50 day simple moving average is $76.60 and its 200-day simple moving average is $89.45.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Root had a net margin of 3.80% and a return on equity of 23.36%. The firm had revenue of $387.80 million during the quarter, compared to analyst estimates of $363.06 million. During the same quarter last year, the business posted $1.35 EPS. The company’s revenue was up 26.9% on a year-over-year basis. As a group, equities research analysts anticipate that Root will post -0.08 EPS for the current year.

About Root

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.