Roots (ROOT) Downgraded by TD Securities to Buy
TD Securities cut shares of Roots (TSE:ROOT) from an action list buy rating to a buy rating in a report issued on Thursday morning. TD Securities currently has C$7.00 target price on the stock, down from their previous target price of C$12.00.
A number of other analysts also recently issued reports on the stock. National Bank Financial dropped their price target on shares of Roots from C$14.50 to C$13.50 and set an outperform rating on the stock in a report on Monday, September 10th. CSFB dropped their price target on shares of Roots from C$8.50 to C$6.00 in a report on Thursday, October 18th. Royal Bank of Canada dropped their price target on shares of Roots from C$13.00 to C$10.00 and set a sector perform rating on the stock in a report on Thursday, September 13th. Jefferies Financial Group dropped their price target on shares of Roots from C$14.00 to C$11.00 in a report on Monday, October 29th. Finally, CIBC dropped their price target on shares of Roots from C$10.00 to C$7.00 in a report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of C$8.06.
Shares of TSE ROOT opened at C$3.65 on Thursday. The company has a debt-to-equity ratio of 63.40, a current ratio of 1.69 and a quick ratio of 0.25. Roots has a 52-week low of C$3.21 and a 52-week high of C$13.55.
Roots Corporation, together with its subsidiaries, provides a portfolio of apparel, leather goods, accessories, and footwear products under the Roots brand. The company operates through two segments, Direct-To-Consumer (DTC), and Partners and Other. The DTC segment sells products through the company's corporate retail stores and e-commerce.
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