Root, Inc. (NASDAQ:ROOT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Root, Inc. (NASDAQ:ROOTGet Rating) have been given an average rating of “Hold” by the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.10.

Several brokerages have weighed in on ROOT. UBS Group decreased their price objective on shares of Root from $6.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, February 28th. Barclays decreased their price objective on shares of Root from $3.00 to $1.50 and set an “underweight” rating for the company in a report on Monday, February 28th. Zacks Investment Research lowered shares of Root from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Finally, Morgan Stanley decreased their price objective on shares of Root from $7.00 to $2.07 and set an “equal weight” rating for the company in a report on Thursday, March 3rd.

In other news, CFO Daniel H. Rosenthal bought 100,000 shares of Root stock in a transaction on Monday, March 14th. The stock was purchased at an average cost of $1.52 per share, with a total value of $152,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence A. Hilsheimer bought 28,735 shares of Root stock in a transaction on Tuesday, March 1st. The shares were purchased at an average cost of $1.75 per share, with a total value of $50,286.25. The disclosure for this purchase can be found here. Insiders own 54.41% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Ribbit Capital GP IV Ltd. bought a new stake in shares of Root during the 4th quarter worth about $91,411,000. Schusterman Interests LLC bought a new stake in shares of Root during the 4th quarter worth about $27,125,000. Galileo PTC Ltd bought a new stake in shares of Root during the 1st quarter worth about $8,960,000. Renaissance Technologies LLC bought a new stake in shares of Root during the 4th quarter worth about $13,714,000. Finally, Millennium Management LLC raised its position in shares of Root by 3,807.3% during the 4th quarter. Millennium Management LLC now owns 4,013,645 shares of the company’s stock worth $12,442,000 after buying an additional 3,910,924 shares in the last quarter. Institutional investors own 51.96% of the company’s stock.

Root stock opened at $1.30 on Friday. Root has a 12-month low of $1.11 and a 12-month high of $14.70. The company has a market capitalization of $330.85 million, a price-to-earnings ratio of -0.65 and a beta of -0.37. The firm’s fifty day moving average price is $1.71 and its 200 day moving average price is $2.39.

Root (NASDAQ:ROOTGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $73.60 million. As a group, sell-side analysts predict that Root will post -1.38 earnings per share for the current year.

Root Company Profile (Get Rating)

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.

Read More

Analyst Recommendations for Root (NASDAQ:ROOT)

Want More Great Investing Ideas?

Receive News & Ratings for Root Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Root and related companies with MarketBeat.com's FREE daily email newsletter.