Brokerages Set Root, Inc. (NASDAQ:ROOT) PT at $121.60

Shares of Root, Inc. (NASDAQ:ROOT) have been given an average rating of “Hold” by the eight analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $121.60.

A number of research firms have weighed in on ROOT. Wall Street Zen downgraded Root from a “hold” rating to a “sell” rating in a report on Sunday, January 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Root in a research note on Friday, November 7th. Wells Fargo & Company set a $75.00 price objective on shares of Root and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Root in a report on Monday, December 29th.

Institutional Trading of Root

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of Root in the third quarter valued at about $50,000. Russell Investments Group Ltd. increased its holdings in shares of Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after acquiring an additional 614 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Root by 28.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock valued at $139,000 after acquiring an additional 241 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Root by 237.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after purchasing an additional 899 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Root during the 3rd quarter valued at approximately $144,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Root Price Performance

ROOT opened at $59.13 on Friday. The company’s 50-day simple moving average is $72.21 and its two-hundred day simple moving average is $83.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $917.11 million, a P/E ratio of 17.86 and a beta of 2.76. Root has a 52-week low of $56.00 and a 52-week high of $181.14.

About Root

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.