Root (NASDAQ:ROOT) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of Root (NASDAQ:ROOT - Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

Other equities analysts have also issued reports about the company. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group lifted their target price on Root from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, April 11th. UBS Group boosted 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. Finally, Wells Fargo & Company upped their price target on shares of Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Root has a consensus rating of "Hold" and a consensus price target of $136.40.

Root Stock Performance

Shares of NASDAQ ROOT traded down $10.30 during midday trading on Friday, reaching $135.11. 487,692 shares of the company traded hands, compared to its average volume of 520,733. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 42.22 and a beta of 2.31. The stock has a 50-day moving average price of $138.06 and a 200 day moving average price of $117.05. Root has a 52 week low of $34.04 and a 52 week high of $181.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.26 and a quick ratio of 1.26.

Root (NASDAQ:ROOT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.45 by $0.62. The firm had revenue of $349.40 million for the quarter, compared to analysts' expectations of $305.24 million. Root had a net margin of 4.11% and a return on equity of 27.33%. Root's quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) EPS. Sell-side analysts anticipate that Root will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other Root news, CEO Alexander E. Timm sold 1,144 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total transaction of $153,307.44. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doug Ulman sold 2,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 6,201 shares of the company's stock, valued at approximately $1,085,175. This trade represents a 24.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,742 shares of company stock valued at $34,553,788 over the last three months. Insiders own 11.71% of the company's stock.

Institutional Investors Weigh In On Root

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Root by 3.6% in the 4th 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. MetLife Investment Management LLC grew its stake in Root by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 5,382 shares of the company's stock valued at $391,000 after purchasing an additional 255 shares in the last quarter. Legal & General Group Plc grew its stake in Root by 3.6% in the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company's stock valued at $577,000 after purchasing an additional 273 shares in the last quarter. Twin Tree Management LP acquired a new position in Root in the 1st quarter worth about $37,000. Finally, KBC Group NV purchased a new stake in shares of Root during the 1st quarter worth about $48,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

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.