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

Root, Inc. (NASDAQ:ROOT) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $121.60.

Several research firms have commented on ROOT. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Root in a report on Friday, November 7th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wells Fargo & Company set a $75.00 price objective on Root and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Wall Street Zen lowered Root from a “hold” rating to a “sell” rating in a research note on Sunday, January 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Root in a research note on Monday, December 29th.

Root Stock Performance

Shares of NASDAQ ROOT opened at $59.49 on Friday. The company has a market cap of $922.69 million, a PE ratio of 17.97 and a beta of 2.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 1.23. Root has a 12 month low of $55.57 and a 12 month high of $181.14. The company has a 50-day simple moving average of $71.39 and a 200-day simple moving average of $82.85.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently modified their holdings of ROOT. Ensign Peak Advisors Inc purchased a new stake in shares of Root during the 2nd quarter valued at about $33,829,000. UBS Group AG grew its position in Root by 372.1% in the third quarter. UBS Group AG now owns 228,738 shares of the company’s stock valued at $20,474,000 after acquiring an additional 180,289 shares in the last quarter. Capital Research Global Investors grew its position in Root by 31.7% in the fourth quarter. Capital Research Global Investors now owns 654,252 shares of the company’s stock valued at $47,257,000 after acquiring an additional 157,654 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Root by 25.9% during the third quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock valued at $64,854,000 after purchasing an additional 149,064 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Root by 54.8% during the second quarter. American Century Companies Inc. now owns 357,176 shares of the company’s stock worth $45,708,000 after purchasing an additional 126,467 shares in the last quarter. Hedge funds and other 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.