Root (NASDAQ:ROOT) Price Target Raised to $125.00

Root (NASDAQ:ROOT - Get Free Report) had its price target increased by equities researchers at TD Cowen from $51.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price objective suggests a potential upside of 7.49% from the company's current price.

A number of other equities analysts also recently issued reports on ROOT. Keefe, Bruyette & Woods increased their price objective on shares of Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their price target 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. Jefferies Financial Group raised their price target on shares of Root from $115.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Root from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $130.50.

Root Trading Down 4.4%

ROOT stock traded down $5.37 during mid-day trading on Tuesday, reaching $116.29. The company had a trading volume of 233,255 shares, compared to its average volume of 518,638. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $1.79 billion, a PE ratio of 36.44 and a beta of 2.26. The firm has a 50 day moving average of $135.67 and a 200 day moving average of $122.03. Root has a 12 month low of $34.04 and a 12 month high of $181.14.

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

Insider Activity at Root

In other Root news, CEO Alexander E. Timm sold 8,290 shares of Root stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $130.60, for a total transaction of $1,082,674.00. Following the transaction, the chief executive officer directly owned 168,609 shares of the company's stock, valued at $22,020,335.40. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Beth A. Birnbaum sold 2,852 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $138.33, for a total transaction of $394,517.16. Following the completion of the sale, the director directly owned 14,280 shares in the company, valued at $1,975,352.40. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,083 shares of company stock valued at $33,362,319 over the last ninety days. Corporate insiders own 11.76% of the company's stock.

Institutional Investors Weigh In On Root

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC acquired a new position in shares of Root in the first quarter valued at approximately $313,000. Bayforest Capital Ltd purchased a new stake in Root in the first quarter valued at $361,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Root by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company's stock valued at $686,000 after acquiring an additional 229 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Root by 122.2% in the first quarter. AQR Capital Management LLC now owns 10,229 shares of the company's stock valued at $1,365,000 after buying an additional 5,626 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of Root in the first quarter valued at about $37,000. 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.