Wall Street analysts expect Root, Inc. (NASDAQ:ROOT – Get Rating) to post earnings of ($0.42) per share for the current quarter, according to Zacks. Three analysts have made estimates for Root’s earnings, with estimates ranging from ($0.47) to ($0.38). Root posted earnings per share of ($0.40) in the same quarter last year, which suggests a negative year-over-year growth rate of 5%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Root will report full year earnings of ($1.44) per share for the current year, with EPS estimates ranging from ($1.71) to ($1.04). For the next financial year, analysts expect that the firm will report earnings of ($0.99) per share, with EPS estimates ranging from ($1.16) to ($0.76). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Root.
ROOT has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of Root from $7.00 to $2.07 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Wells Fargo & Company cut their price target on shares of Root from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 4th. Barclays cut their price target on shares of Root from $3.00 to $1.50 and set an “underweight” rating on the stock in a research report on Monday, February 28th. UBS Group cut their price objective on shares of Root from $6.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, February 28th. Finally, Zacks Investment Research cut shares of Root from a “buy” rating to a “hold” rating in a research report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.95.
In related news, CFO Daniel H. Rosenthal acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $1.52 per share, for a total transaction of $152,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lawrence A. Hilsheimer acquired 28,735 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were bought at an average price of $1.75 per share, with a total value of $50,286.25. The disclosure for this purchase can be found here. 54.41% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. grew its position in Root by 100.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 5,000 shares of the company’s stock worth $26,000 after purchasing an additional 2,500 shares during the last quarter. Cedar Brook Financial Partners LLC purchased a new stake in shares of Root in the 1st quarter valued at $30,000. Probity Advisors Inc. acquired a new position in shares of Root in the 4th quarter valued at $31,000. Legal & General Group Plc acquired a new position in shares of Root in the 4th quarter valued at $34,000. Finally, Teacher Retirement System of Texas acquired a new position in Root during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 34.34% of the company’s stock.
Root Company Profile (Get Rating)
Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.
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