Root, Inc. (NASDAQ:ROOT) Receives $102.67 Consensus PT from Brokerages

by · The Cerbat Gem

Root, Inc. (NASDAQ:ROOT – Get Free Report) has received a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $102.67.

Several research analysts have recently issued reports on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. Jefferies Financial Group boosted their target price on shares of Root from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 11th. UBS Group raised their price target on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Root from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 10th.

View Our Latest Stock Report on ROOT

Insider Transactions at Root

In related news, insider Mahtiyar Bonakdarpour sold 5,515 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $124.78, for a total transaction of $688,161.70. Following the completion of the sale, the insider now owns 286,901 shares of the company’s stock, valued at $35,799,506.78. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Alexander E. Timm sold 1,144 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $134.01, for a total value of $153,307.44. Following the completion of the transaction, the chief executive officer now directly owns 161,625 shares in the company, valued at approximately $21,659,366.25. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,659 shares of company stock worth $1,191,469 over the last three months. 11.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Root

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 171 shares in the last quarter. 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 acquiring an additional 255 shares during the period. Legal & General Group Plc increased its holdings in shares of Root by 3.6% during the fourth quarter. Legal & General Group Plc now owns 7,955 shares of the company’s stock valued at $577,000 after acquiring an additional 273 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Root by 651.8% during the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company’s stock worth $31,000 after purchasing an additional 365 shares during the period. Finally, State Street Corp lifted its holdings in shares of Root by 0.3% in the 3rd quarter. State Street Corp now owns 176,891 shares of the company’s stock worth $6,683,000 after purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

Root Price Performance

Shares of NASDAQ:ROOT opened at $129.74 on Monday. Root has a one year low of $34.04 and a one year high of $181.14. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -105.48 and a beta of 2.41. The firm has a 50 day simple moving average of $130.45 and a 200 day simple moving average of $94.80.

Root (NASDAQ:ROOT – Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. Research analysts predict that Root will post -0.08 earnings per share for the current fiscal year.

About Root

(Get Free Report

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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