Root, Inc. (NASDAQ:ROOT) Stock Has Consensus Target Price of $57.75 According to Analysts

Root, Inc. (NASDAQ:ROOT) has received a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $57.75.

A number of research analysts have commented on ROOT shares. TD Cowen downgraded Root from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th. Keefe, Bruyette & Woods dropped their target price on shares of Root from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. Wells Fargo & Company raised their price target on shares of Root from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Weiss Ratings raised shares of Root from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Jefferies Financial Group lowered Root from a “buy” rating to a “hold” rating and lowered their target price for the company from $78.00 to $58.00 in a report on Tuesday, August 11th.

Root Stock Down 0.8%

Shares of NASDAQ:ROOT opened at $43.63 on Tuesday. Root has a 52-week low of $40.91 and a 52-week high of $87.40. The company has a market capitalization of $675.83 million, a price-to-earnings ratio of 9.19 and a beta of 3.06. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $49.95 and a two-hundred day moving average of $53.40.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.63 by $0.23. Root had a return on equity of 24.82% and a net margin of 5.03%. The business had revenue of $381.30 million for the quarter, compared to analysts’ expectations of $384.43 million. As a group, analysts forecast that Root will post 4.46 earnings per share for the current fiscal year.

Institutional Trading of Root

Several large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP bought a new stake in shares of Root during the 3rd quarter worth about $2,739,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Root in the 1st quarter valued at approximately $1,193,000. Quantinno Capital Management LP acquired a new stake in Root during the 1st quarter worth about $920,000. State of Wyoming purchased a new position in Root during the third quarter valued at approximately $289,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Root in the 2nd quarter valued at approximately $219,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

About Root

Root, Inc. is a technology-focused insurance company that primarily provides personal auto insurance in the United States. Its coverage is offered in participating states, with availability and policy options varying by location. The company uses smartphone technology to assess driving behavior, including factors such as braking and driving patterns, and incorporates that information into its insurance pricing. Customers can use Root’s mobile app to get quotes, manage policies and access insurance services.