Root, Inc. (NASDAQ:ROOT) Given Average Recommendation of “Moderate Buy” by Analysts

Root, Inc. (NASDAQ:ROOT) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $136.40.

Several research analysts have recently issued reports on ROOT shares. Keefe, Bruyette & Woods increased their target price on Root from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Jefferies Financial Group increased their price objective on Root from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of Root from $105.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Finally, UBS Group upped their target price on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th.

Root Stock Up 0.4%

Shares of NASDAQ ROOT opened at $128.25 on Friday. The firm has a fifty day simple moving average of $138.97 and a two-hundred day simple moving average of $119.02. Root has a 12 month low of $34.04 and a 12 month high of $181.14. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.97 billion, a PE ratio of 40.08 and a beta of 2.31.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.62. Root had a net margin of 4.11% and a return on equity of 27.33%. The company had revenue of $349.40 million during the quarter, compared to the consensus estimate of $305.24 million. During the same period in the prior year, the firm earned ($0.42) earnings per share. Root’s revenue was up 37.2% on a year-over-year basis. Equities analysts expect that Root will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Root

In other Root news, CEO Alexander E. Timm sold 1,144 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the sale, the chief executive officer now directly owns 161,625 shares in the company, valued at approximately $21,659,366.25. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerri Devard sold 1,895 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $141.50, for a total transaction of $268,142.50. Following the completion of the transaction, the director now owns 18,532 shares in the company, valued at approximately $2,622,278. This represents a 9.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,742 shares of company stock worth $34,203,788. 11.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Root

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after purchasing an additional 365 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of Root during the first quarter valued at $37,000. KBC Group NV bought a new stake in Root in the 1st quarter worth about $48,000. KLP Kapitalforvaltning AS purchased a new position in Root in the 4th quarter worth about $94,000. Finally, Aquatic Capital Management LLC raised its position in Root by 92.1% in the 4th quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock worth $112,000 after buying an additional 737 shares during the last quarter. 59.82% of the stock is owned by institutional investors.

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.