TD Forecasts Strong Price Appreciation for Roots (TSE:ROOT) Stock

Roots (TSE:ROOT) had its target price lifted by equities researchers at TD from C$4.25 to C$4.50 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price would indicate a potential downside of 1.10% from the stock’s current price.

Roots Price Performance

Shares of Roots stock traded down C$0.02 during mid-day trading on Monday, reaching C$4.55. 9,197 shares of the stock were exchanged, compared to its average volume of 12,359. The company has a market cap of C$178.34 million, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of -0.54 and a beta of -0.21. The company has a current ratio of 1.30, a quick ratio of 0.25 and a debt-to-equity ratio of 67.56. The firm has a 50-day simple moving average of C$4.00 and a 200 day simple moving average of C$3.49. Roots has a fifty-two week low of C$2.75 and a fifty-two week high of C$4.65.

Roots (TSE:ROOT) last announced its earnings results on Thursday, April 9th. The company reported C$0.42 earnings per share (EPS) for the quarter. The business had revenue of C$115.46 million during the quarter. Roots had a net margin of 1.68% and a return on equity of 3.16%. On average, sell-side analysts predict that Roots will post 0.29 EPS for the current fiscal year.

Roots Company Profile

Roots Corp provides a portfolio of apparel, leather goods, accessories, and footwear for men, women, and children under the Roots brand. Its merchandise includes genuine leather, such as jackets, bags, and luggage; kids & baby clothing; and leather, linens, towels, and accessories. The company operates through two segments: Direct-To-Consumer, which accounts for majority revenue, and Partners & Other. The DTC segment sells products through the company’s corporate retail stores and e-commerce. The Partners & Other segment engage in the wholesale of Roots branded products to the company’s international operating partner, and it earns royalties on the retail sales of Roots-branded products.