Root, Inc. (NASDAQ:ROOT – Get Free Report) gapped down prior to trading on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $95.00 to $80.00. The stock had previously closed at $60.28, but opened at $47.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Root shares last traded at $46.2450, with a volume of 174,810 shares traded.
A number of other research firms also recently issued reports on ROOT. UBS Group set a $50.00 target price on shares of Root and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Root from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Wells Fargo & Company increased their price objective on Root from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Zacks Research raised Root from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, TD Cowen restated a “hold” rating on shares of Root in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $82.25.
Read Our Latest Analysis on ROOT
Institutional Inflows and Outflows
Root Price Performance
The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $57.11 and a 200-day simple moving average of $55.37. The stock has a market cap of $750.83 million, a price-to-earnings ratio of 13.95 and a beta of 2.89.
Root (NASDAQ:ROOT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $1.25. The company had revenue of $393.50 million during the quarter, compared to analyst estimates of $398.16 million. Root had a return on equity of 19.97% and a net margin of 3.58%.The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, equities research analysts expect that Root, Inc. will post 3.28 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.
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