Root (NASDAQ:ROOT) Stock Rating Upgraded by Zacks Research

by · The Markets Daily

Root (NASDAQ:ROOT – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Wall Street Zen raised shares of Root from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company set a $75.00 target price on shares of Root and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Root in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Root in a research report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.60.

Check Out Our Latest Stock Report on Root

Root Price Performance

ROOT stock traded down $1.16 during mid-day trading on Monday, hitting $73.10. 64,965 shares of the stock were exchanged, compared to its average volume of 274,460. The business has a fifty day moving average price of $78.05 and a 200 day moving average price of $91.37. Root has a 12 month low of $68.08 and a 12 month high of $181.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 22.27 and a beta of 2.70.

Root (NASDAQ:ROOT – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Root had a return on equity of 23.36% and a net margin of 3.80%.The company had revenue of $387.80 million during the quarter, compared to the consensus estimate of $363.06 million. During the same quarter in the previous year, the company posted $1.35 EPS. Root’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Root will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Root

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROOT. State of Alaska Department of Revenue purchased a new position in shares of Root in the 3rd quarter worth approximately $50,000. Russell Investments Group Ltd. grew its holdings in Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock valued at $94,000 after purchasing an additional 614 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Root by 28.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after purchasing an additional 241 shares during the period. Tower Research Capital LLC TRC lifted its stake in Root by 237.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock worth $164,000 after purchasing an additional 899 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Root in the third quarter worth approximately $144,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Root Company Profile

(Get Free Report)

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.

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