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

Shares of Root, Inc. (NASDAQ:ROOT) have earned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $121.60.

A number of brokerages have recently issued reports on ROOT. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Root in a research report on Monday, December 29th. Wall Street Zen downgraded Root from a “hold” rating to a “sell” rating in a research note on Sunday, January 18th. Wells Fargo & Company set a $75.00 price target on Root and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Root in a report on Friday, November 7th. Finally, Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Root by 122.2% in the first quarter. AQR Capital Management LLC now owns 10,229 shares of the company’s stock valued at $1,365,000 after buying an additional 5,626 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Root by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock worth $686,000 after buying an additional 229 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in Root by 30.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,700 shares of the company’s stock valued at $218,000 after acquiring an additional 400 shares during the period. IFC Advisors LLC purchased a new stake in shares of Root in the 2nd quarter valued at $3,791,000. Finally, Frazier Financial Advisors LLC boosted its holdings in shares of Root by 4,976.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 1,929 shares of the company’s stock valued at $247,000 after acquiring an additional 1,891 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Stock Performance

Shares of Root stock opened at $62.08 on Friday. The company has a market capitalization of $962.86 million, a PE ratio of 18.76 and a beta of 2.76. The company has a 50-day simple moving average of $72.95 and a two-hundred day simple moving average of $84.40. Root has a one year low of $56.00 and a one year high of $181.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.23 and a current ratio of 1.23.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $387.80 million for the quarter, compared to analysts’ expectations of $363.06 million. Root had a net margin of 3.80% and a return on equity of 23.36%. The company’s revenue was up 26.9% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. Research analysts expect that Root will post -0.08 EPS for the current fiscal 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.