Root, Inc. (NASDAQ:ROOT) Receives Average Recommendation of "Hold" from Brokerages

Shares of Root, Inc. (NASDAQ:ROOT - Get Free Report) have received a consensus recommendation of "Hold" from the nine brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $122.17.

Several research firms recently issued reports on ROOT. UBS Group raised their target price 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. Scotiabank restated a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Jefferies Financial Group lifted 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. Wells Fargo & Company lifted their price objective on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Root from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday.

Insider Buying and Selling

In other news, Director Doug Ulman sold 2,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 6,201 shares in the company, valued at approximately $1,085,175. This represents a 24.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Meyer Malka sold 225,000 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $135.81, for a total value of $30,557,250.00. Following the sale, the insider now owns 503,800 shares in the company, valued at $68,421,078. The trade was a 30.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 233,659 shares of company stock valued at $31,748,719 in the last quarter. Company insiders own 11.76% of the company's stock.

Institutional Trading of Root

Several institutional investors have recently added to or reduced their stakes in ROOT. Headlands Technologies LLC acquired a new position in shares of Root in the 1st quarter valued at about $1,261,000. Vanguard Group Inc. raised its position in shares of Root by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 529,555 shares of the company's stock worth $70,664,000 after purchasing an additional 2,627 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Root in the 1st quarter worth approximately $204,000. Jefferies Financial Group Inc. acquired a new position in Root during the 1st quarter valued at approximately $1,139,000. Finally, Bayforest Capital Ltd bought a new position in Root during the 1st quarter worth $361,000. Institutional investors own 59.82% of the company's stock.

Root Price Performance

Shares of Root stock traded up $5.93 during trading on Friday, hitting $147.42. 543,817 shares of the company were exchanged, compared to its average volume of 511,750. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -119.85 and a beta of 2.40. The firm has a 50 day moving average price of $137.35 and a 200 day moving average price of $106.25. Root has a fifty-two week low of $34.04 and a fifty-two week high of $181.14.

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