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

Shares of Root, Inc. (NASDAQ:ROOT) have earned an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $102.67.

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. Wells Fargo & Company upped their price target on Root from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, April 10th. Finally, Jefferies Financial Group boosted their target price on Root from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 11th.

Insider Buying and Selling at Root

In other Root news, insider Mahtiyar Bonakdarpour sold 5,515 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total transaction of $688,161.70. Following the completion of the transaction, the insider now owns 286,901 shares in the company, valued at approximately $35,799,506.78. This represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alexander E. Timm sold 1,144 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the sale, the chief executive officer now owns 161,625 shares of the company’s stock, valued at $21,659,366.25. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,659 shares of company stock valued at $1,191,469 in the last ninety days. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On Root

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after acquiring an additional 365 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Root in the 4th quarter valued at about $94,000. Aquatic Capital Management LLC lifted its stake in shares of Root by 92.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company’s stock valued at $112,000 after purchasing an additional 737 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Root during the fourth quarter worth about $154,000. Finally, FreeGulliver LLC acquired a new position in Root during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Price Performance

Shares of ROOT stock opened at $129.74 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s 50-day simple moving average is $130.45 and its 200-day simple moving average is $95.58. Root has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -105.48 and a beta of 2.41.

Root (NASDAQ:ROOT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.93. The company had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. As a group, equities analysts forecast that Root will post -0.08 earnings per share for the current fiscal year.

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.