Root, Inc. (NASDAQ:ROOT) Given Consensus Rating of “Hold” by Analysts

Shares of Root, Inc. (NASDAQ:ROOT) have been given a consensus rating of “Hold” by the nine analysts that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.88.

ROOT has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Root from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. TD Cowen began coverage on shares of Root in a research report on Wednesday, January 10th. They issued a “market perform” rating for the company. JMP Securities reissued a “market outperform” rating and set a $15.00 price target on shares of Root in a research report on Monday, April 15th. Citigroup raised their price objective on Root from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group raised shares of Root from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $40.00 in a research report on Friday, March 1st.

Root Price Performance

Root stock opened at $64.40 on Monday. The company has a market capitalization of $940.24 million, a price-to-earnings ratio of -6.30 and a beta of 2.86. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. Root has a 12 month low of $3.90 and a 12 month high of $85.99. The stock’s 50 day moving average is $50.06 and its 200-day moving average is $23.88.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($1.64) EPS for the quarter, beating analysts’ consensus estimates of ($2.49) by $0.85. Root had a negative return on equity of 73.62% and a negative net margin of 32.40%. The firm had revenue of $194.80 million for the quarter, compared to analyst estimates of $108.00 million. Equities research analysts expect that Root will post -7.87 EPS for the current year.

Institutional Investors Weigh In On Root

A number of hedge funds have recently made changes to their positions in the stock. Cannell Capital LLC increased its position in Root by 144.0% during the 4th quarter. Cannell Capital LLC now owns 717,043 shares of the company’s stock worth $7,515,000 after purchasing an additional 423,120 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Root during the third quarter worth $1,315,000. HST Ventures LLC grew its stake in shares of Root by 21.9% during the fourth quarter. HST Ventures LLC now owns 51,890 shares of the company’s stock worth $544,000 after buying an additional 9,317 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Root by 43.4% in the 4th quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock valued at $488,000 after acquiring an additional 14,096 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Root by 37.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock worth $360,000 after purchasing an additional 9,390 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors and hedge funds.

About Root

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.