Analysts Set Root, Inc. (NASDAQ:ROOT) Target Price at $136.40

Shares of Root, Inc. (NASDAQ:ROOT - Get Free Report) have been given an average rating of "Moderate Buy" by the eight research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $136.40.

ROOT has been the topic of a number of research analyst reports. Wall Street Zen lowered Root from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Jefferies Financial Group raised their target price on shares of Root from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Keefe, Bruyette & Woods boosted their price target on shares of Root from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. 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 note on Friday, March 7th. Finally, Wells Fargo & Company raised their price objective on shares of Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th.

Root Stock Performance

NASDAQ ROOT traded down $2.69 on Friday, hitting $125.28. The stock had a trading volume of 230,917 shares, compared to its average volume of 521,581. The company's 50-day moving average is $138.97 and its two-hundred day moving average is $119.98. Root has a one year low of $34.04 and a one year high of $181.14. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 39.15 and a beta of 2.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.87.

Root (NASDAQ:ROOT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.62. Root had a return on equity of 27.33% and a net margin of 4.11%. The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $305.24 million. During the same period in the previous year, the firm posted ($0.42) earnings per share. The business's revenue was up 37.2% on a year-over-year basis. On average, analysts expect that Root will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Root

In other news, CEO Alexander E. Timm sold 8,290 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $130.60, for a total transaction of $1,082,674.00. Following the completion of the sale, the chief executive officer directly owned 168,609 shares of the company's stock, valued at $22,020,335.40. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Beth A. Birnbaum sold 2,852 shares of Root stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $138.33, for a total value of $394,517.16. Following the completion of the transaction, the director owned 14,280 shares in the company, valued at $1,975,352.40. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,598 shares of company stock valued at $34,050,481. Corporate insiders own 11.71% of the company's stock.

Institutional Investors Weigh In On Root

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Root by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock worth $357,000 after purchasing an additional 171 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Root by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock worth $391,000 after buying an additional 255 shares during the period. Legal & General Group Plc increased its position in shares of Root by 3.6% in the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock worth $577,000 after acquiring an additional 273 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Root in the first quarter worth approximately $37,000. Finally, KBC Group NV acquired a new stake in shares of Root during the first quarter valued at approximately $48,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

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.