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

Root (NASDAQ:ROOT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

ROOT has been the subject of several other research reports. Jefferies Financial Group lifted their price objective on shares of Root from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Scotiabank restated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. UBS Group boosted their target price on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, March 7th. Wells Fargo & Company boosted their target price on shares of Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $136.40.

Root Price Performance

Shares of Root stock opened at $146.69 on Friday. Root has a twelve month low of $34.04 and a twelve month high of $181.14. 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 company has a 50-day simple moving average of $137.19 and a two-hundred day simple moving average of $116.36. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -119.26 and a beta of 2.31.

Root (NASDAQ:ROOT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.07 earnings per share 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 business 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 company earned ($0.42) EPS. The business's revenue was up 37.2% on a year-over-year basis. Analysts forecast that Root will post -0.08 EPS for the current year.

Insider Activity

In related news, Director Doug Ulman sold 2,000 shares of Root stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 6,201 shares of the company's stock, valued at approximately $1,085,175. The trade was a 24.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mahtiyar Bonakdarpour sold 5,515 shares of Root stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total transaction of $688,161.70. Following the sale, the insider now directly owns 286,901 shares in the company, valued at $35,799,506.78. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,742 shares of company stock worth $34,553,788. 11.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Root

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its holdings in shares of Root by 27.7% during the 4th quarter. Rhumbline Advisers now owns 14,628 shares of the company's stock valued at $1,062,000 after purchasing an additional 3,169 shares during the last quarter. California State Teachers Retirement System grew its holdings 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 during the last quarter. Mariner LLC bought a new stake in Root during the 4th quarter worth approximately $217,000. Bank of New York Mellon Corp grew its holdings in Root by 36.0% during the 4th quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock worth $1,774,000 after acquiring an additional 6,465 shares during the last quarter. Finally, Swiss National Bank grew its holdings 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 acquiring an additional 2,100 shares during the last quarter. 59.82% of the stock is owned by 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.

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