Root, Inc. (NASDAQ:ROOT) Receives $92.40 Average Price Target from Brokerages

Root, Inc. (NASDAQ:ROOT) has earned an average rating of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $92.40.

ROOT has been the subject of several research analyst reports. UBS Group dropped their target price on shares of Root from $90.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Wells Fargo & Company lowered their target price on shares of Root from $70.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods lowered their target price on shares of Root from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.

Institutional Trading of Root

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in Root during the third quarter valued at $50,000. Russell Investments Group Ltd. increased its stake in Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after purchasing an additional 614 shares during the last quarter. Advisory Services Network LLC bought a new stake in Root during the third quarter valued at $144,000. Tower Research Capital LLC TRC increased its position in Root by 237.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after buying an additional 899 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Root in the third quarter worth $194,000. Institutional investors own 59.82% of the company’s stock.

Root Price Performance

ROOT opened at $57.68 on Friday. The company has a 50-day moving average of $49.63 and a 200-day moving average of $66.08. The company has a market capitalization of $897.50 million, a P/E ratio of 24.86 and a beta of 2.90. 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 quick ratio of 1.21 and a current ratio of 1.21.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.28. The company had revenue of $397.00 million during the quarter, compared to the consensus estimate of $381.57 million. Root had a net margin of 2.58% and a return on equity of 15.34%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. Equities analysts expect that Root will post 2.15 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.