Root (NASDAQ:ROOT) Price Target Raised to $97.00

Root (NASDAQ:ROOT) had its price target boosted by Wells Fargo & Company from $80.00 to $97.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on ROOT. UBS Group raised their price objective on Root from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Citizens Jmp cut shares of Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $90.00 price objective (up from $82.00) on shares of Root in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.83.

Root Price Performance

Shares of NASDAQ ROOT opened at $135.17 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. Root has a 1-year low of $27.24 and a 1-year high of $141.23. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -109.89 and a beta of 2.58. The business has a 50-day moving average of $94.20 and a 200-day moving average of $71.36.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The company had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. On average, equities analysts anticipate that Root will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Root

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Root by 69.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock valued at $611,000 after purchasing an additional 3,459 shares during the last quarter. State of Wyoming grew its position in shares of Root by 21.6% during the 4th quarter. State of Wyoming now owns 4,162 shares of the company’s stock valued at $302,000 after buying an additional 740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Root by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock worth $357,000 after acquiring an additional 171 shares during the period. Janus Henderson Group PLC acquired a new stake in Root during the fourth quarter worth about $248,000. Finally, Deutsche Bank AG lifted its holdings in Root by 47.4% in the fourth quarter. Deutsche Bank AG now owns 7,818 shares of the company’s stock worth $568,000 after acquiring an additional 2,513 shares during the last quarter. 59.82% of the stock is owned by institutional investors and hedge funds.

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.