Root (NASDAQ:ROOT) Price Target Lowered to $52.00 at UBS Group

Root (NASDAQ:ROOT) had its price objective trimmed by UBS Group from $90.00 to $52.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on ROOT. Wells Fargo & Company dropped their price target on shares of Root from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised shares of Root from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $104.00 target price (down from $150.00) on shares of Root in a research note on Thursday, February 26th. Finally, Weiss Ratings raised Root from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.80.

Root Trading Down 5.8%

NASDAQ ROOT opened at $45.21 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $63.65 and a 200 day simple moving average of $77.01. Root has a 12 month low of $44.02 and a 12 month high of $181.14. The firm has a market capitalization of $703.47 million, a P/E ratio of 19.49 and a beta of 2.84.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.28. Root had a net margin of 2.58% and a return on equity of 15.34%. The firm had revenue of $397.00 million for the quarter, compared to the consensus estimate of $381.57 million. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts predict that Root will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Root

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in Root in the third quarter worth about $50,000. Russell Investments Group Ltd. grew its position in shares of Root by 511.7% during the 2nd 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 period. Ameritas Investment Partners Inc. increased its stake in shares of Root by 28.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after purchasing an additional 241 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Root by 237.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after purchasing an additional 899 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Root during the 3rd quarter worth approximately $144,000. Institutional investors own 59.82% of the company’s stock.

Root Company Profile

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.