Root (NASDAQ:ROOT) Rating Reiterated by Keefe, Bruyette & Woods

Root (NASDAQ:ROOT)‘s stock had its “outperform” rating restated by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $70.00 price target on the stock, up from their previous price target of $22.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 11.71% from the company’s current price.

A number of other analysts have also recently commented on ROOT. Citigroup upped their price target on Root from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $15.00 target price on shares of Root in a research note on Monday, April 15th. TD Cowen started coverage on shares of Root in a research report on Wednesday, January 10th. They issued a “market perform” rating for the company. Jefferies Financial Group upgraded shares of Root from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $40.00 in a research report on Friday, March 1st. Finally, Wells Fargo & Company upped their target price on shares of Root from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Root currently has a consensus rating of “Hold” and a consensus price target of $21.88.

Root Stock Up 4.4 %

Shares of NASDAQ ROOT opened at $62.66 on Wednesday. Root has a 12-month low of $3.76 and a 12-month high of $85.99. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a 50 day moving average of $48.95 and a 200 day moving average of $23.31.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.49) by $0.85. The firm had revenue of $194.80 million during the quarter, compared to the consensus estimate of $108.00 million. Root had a negative net margin of 32.40% and a negative return on equity of 73.62%. Sell-side analysts expect that Root will post -7.87 earnings per share for the current fiscal year.

Institutional Trading of Root

Hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Root by 218,250.0% in the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after purchasing an additional 4,365 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Root in the 3rd quarter worth $309,000. Raymond James & Associates purchased a new position in shares of Root in the 3rd quarter worth $1,315,000. Cannell Capital LLC bought a new stake in shares of Root in the 3rd quarter worth about $2,795,000. Finally, Barclays PLC raised its position in shares of Root by 229,380.0% during the 3rd quarter. Barclays PLC now owns 11,474 shares of the company’s stock valued at $109,000 after buying an additional 11,469 shares in the last quarter. 59.82% of the stock is owned by hedge funds and other institutional investors.

Root Company Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.