Root, Inc. (NASDAQ:ROOT) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Root, Inc. (NASDAQ:ROOT - Get Free Report) have been given an average recommendation of "Hold" by the nine research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $122.17.

Several equities analysts recently commented on ROOT shares. Jefferies Financial Group increased their target price on Root from $115.00 to $150.00 and gave the company a "buy" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods increased their price objective on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group boosted their target price on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, March 7th. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Root from $105.00 to $142.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th.

Root Stock Down 2.6%

Shares of ROOT stock traded down $3.55 during trading hours on Tuesday, reaching $133.99. 327,025 shares of the stock were exchanged, compared to its average volume of 513,220. The business's fifty day moving average is $133.02 and its two-hundred day moving average is $114.00. The firm has a market capitalization of $2.06 billion, a P/E ratio of -108.93 and a beta of 2.40. Root has a 12-month low of $34.04 and a 12-month high of $181.14. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39.

Root (NASDAQ:ROOT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.45 by $0.62. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The company had revenue of $349.40 million during the quarter, compared to analysts' expectations of $305.24 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The firm's revenue was up 37.2% on a year-over-year basis. As a group, research analysts expect that Root will post -0.08 EPS for the current fiscal year.

Insider Activity

In other Root news, major shareholder Meyer Malka sold 225,000 shares of Root stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $135.81, for a total transaction of $30,557,250.00. Following the transaction, the insider now owns 503,800 shares of the company's stock, valued at $68,421,078. The trade was a 30.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alexander E. Timm sold 1,144 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the sale, the chief executive officer now directly owns 161,625 shares of the company's stock, valued at $21,659,366.25. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 233,659 shares of company stock valued at $31,748,719. Insiders own 11.76% of the company's stock.

Institutional Trading of Root

Large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of Root by 27.7% during the fourth quarter. Rhumbline Advisers now owns 14,628 shares of the company's stock worth $1,062,000 after purchasing an additional 3,169 shares during the last quarter. Mariner LLC purchased a new position in Root during the fourth quarter worth about $217,000. Bank of New York Mellon Corp boosted its holdings in Root by 36.0% in the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock valued at $1,774,000 after purchasing an additional 6,465 shares in the last quarter. Swiss National Bank increased its position in Root by 15.6% during the 4th quarter. Swiss National Bank now owns 15,600 shares of the company's stock worth $1,132,000 after purchasing an additional 2,100 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Root during the 4th quarter worth approximately $417,000. Institutional investors and hedge funds own 59.82% of the company's stock.

About Root

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.