Root (NASDAQ:ROOT - Get Free Report) had its price target raised by stock analysts at UBS Group from $67.00 to $130.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 0.25% from the company's previous close.
Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reissued a "buy" rating on shares of Root in a report on Sunday. Citizens Jmp cut Root from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. JMP Securities downgraded shares of Root from an "outperform" rating to a "market perform" rating in a research note on Friday, November 22nd. Finally, Scotiabank reissued a "sector perform" rating on shares of Root in a research note on Sunday. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Root presently has a consensus rating of "Moderate Buy" and an average target price of $88.33.
View Our Latest Analysis on ROOT
Root stock traded up $1.36 during trading on Friday, reaching $129.68. The stock had a trading volume of 97,791 shares, compared to its average volume of 504,027. The stock has a market cap of $1.96 billion, a PE ratio of -105.04 and a beta of 2.48. The business has a 50 day moving average price of $98.93 and a 200 day moving average price of $73.57. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root has a 52-week low of $34.04 and a 52-week high of $145.34.
Root (NASDAQ:ROOT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.93. The firm had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. On average, analysts predict that Root will post -0.08 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company's stock worth $682,000 after purchasing an additional 16,348 shares in the last quarter. Barclays PLC increased its stake in Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company's stock valued at $529,000 after purchasing an additional 10,993 shares during the last quarter. Versor Investments LP acquired a new position in Root during the 3rd quarter valued at approximately $216,000. Nordea Investment Management AB grew its stake in Root by 7.3% during the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock worth $1,497,000 after buying an additional 1,416 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Root in the third quarter worth $428,000. 59.82% of the stock is owned by hedge funds and other institutional investors.
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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