Root (NASDAQ:ROOT) Raised to “Hold” at Wall Street Zen

by · The Cerbat Gem

Root (NASDAQ:ROOT – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on ROOT. Wells Fargo & Company lifted their price target on shares of Root from $89.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of Root from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Root in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Root in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Root currently has a consensus rating of “Hold” and a consensus price target of $125.80.

View Our Latest Stock Analysis on ROOT

Root Stock Performance

NASDAQ ROOT opened at $76.47 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 23.10 and a beta of 2.70. Root has a twelve month low of $68.08 and a twelve month high of $181.14. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $78.17 and a 200 day moving average of $92.09.

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

Institutional Trading of Root

Several large investors have recently bought and sold shares of ROOT. Vanguard Group Inc. lifted its stake in Root by 25.9% in the 3rd quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock worth $64,854,000 after purchasing an additional 149,064 shares in the last quarter. American Century Companies Inc. lifted its position in Root by 54.8% during the second quarter. American Century Companies Inc. now owns 357,176 shares of the company’s stock worth $45,708,000 after buying an additional 126,467 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in Root during the second quarter worth $33,829,000. Geode Capital Management LLC boosted its stake in Root by 18.6% during the second quarter. Geode Capital Management LLC now owns 234,715 shares of the company’s stock worth $30,040,000 after buying an additional 36,869 shares during the last quarter. Finally, UBS Group AG grew its holdings in Root by 372.1% in the 3rd quarter. UBS Group AG now owns 228,738 shares of the company’s stock valued at $20,474,000 after buying an additional 180,289 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company’s stock.

About Root

(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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