Analysts Set Root, Inc. (NASDAQ:ROOT) PT at $88.33

Shares of Root, Inc. (NASDAQ:ROOT) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $88.33.

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, March 7th. Wells Fargo & Company restated a “buy” rating on shares of Root in a report on Sunday, March 2nd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd.

Institutional Investors Weigh In On Root

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in Root by 12.0% during the 4th quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock worth $543,000 after acquiring an additional 801 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 period. State of Wyoming lifted its position in shares of Root by 21.6% during the fourth quarter. State of Wyoming now owns 4,162 shares of the company’s stock worth $302,000 after purchasing an additional 740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Root by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after purchasing an additional 171 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Root during the 4th quarter valued at $248,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Price Performance

ROOT stock opened at $177.69 on Thursday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -144.46 and a beta of 2.48. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root has a 52-week low of $34.04 and a 52-week high of $181.14. The stock’s fifty day simple moving average is $116.19 and its 200-day simple moving average is $82.74.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Equities research analysts expect that Root will post -0.08 EPS for the current 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.