Root (NASDAQ:ROOT) Price Target Cut to $95.00 by Analysts at Keefe, Bruyette & Woods

Root (NASDAQ:ROOT) had its target price trimmed by Keefe, Bruyette & Woods from $104.00 to $95.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. UBS Group reduced their target price on Root from $90.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, March 9th. Wall Street Zen raised Root from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research raised Root from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wells Fargo & Company reduced their price target on shares of Root from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.00.

Root Stock Performance

NASDAQ ROOT opened at $44.56 on Tuesday. Root has a 1 year low of $40.91 and a 1 year high of $162.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $693.35 million, a price-to-earnings ratio of 19.21 and a beta of 2.90. The company has a fifty day moving average price of $52.21 and a 200-day moving average price of $69.66.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.28. The company had revenue of $397.00 million during the quarter, compared to analyst estimates of $381.57 million. Root had a return on equity of 15.34% and a net margin of 2.58%.Root’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that Root will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Root

Several institutional investors and hedge funds have recently bought and sold shares of ROOT. AQR Capital Management LLC grew its holdings in Root by 122.2% during the first quarter. AQR Capital Management LLC now owns 10,229 shares of the company’s stock valued at $1,365,000 after purchasing an additional 5,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Root by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock valued at $686,000 after purchasing an additional 229 shares during the period. JPMorgan Chase & Co. grew its holdings in Root by 389.3% during the second quarter. JPMorgan Chase & Co. now owns 28,905 shares of the company’s stock valued at $3,699,000 after purchasing an additional 22,997 shares during the period. Legal & General Group Plc grew its holdings in Root by 34.4% during the second quarter. Legal & General Group Plc now owns 10,633 shares of the company’s stock valued at $1,361,000 after purchasing an additional 2,722 shares during the period. Finally, Rhumbline Advisers grew its holdings in Root by 27.2% during the second quarter. Rhumbline Advisers now owns 15,368 shares of the company’s stock valued at $1,967,000 after purchasing an additional 3,287 shares during the period. 59.82% of the stock is owned by institutional investors.

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.