Equities research analysts forecast that Root, Inc. (NASDAQ:ROOT – Get Rating) will report sales of $84.97 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Root’s earnings, with estimates ranging from $73.00 million to $100.00 million. Root reported sales of $89.80 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Root will report full year sales of $319.51 million for the current fiscal year, with estimates ranging from $287.20 million to $378.00 million. For the next fiscal year, analysts expect that the firm will post sales of $261.56 million, with estimates ranging from $210.10 million to $333.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Root.
Several equities analysts have recently issued reports on ROOT shares. Zacks Investment Research lowered Root from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Morgan Stanley decreased their target price 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. UBS Group cut their price target on shares of Root from $6.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, February 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.82.
Several large investors have recently modified their holdings of ROOT. Walleye Capital LLC bought a new stake in Root during the first quarter valued at approximately $43,000. Royal Bank of Canada raised its position in Root by 66.4% in the first quarter. Royal Bank of Canada now owns 28,294 shares of the company’s stock worth $55,000 after acquiring an additional 11,294 shares during the period. California State Teachers Retirement System boosted its stake in shares of Root by 28.5% during the 1st quarter. California State Teachers Retirement System now owns 61,955 shares of the company’s stock worth $122,000 after acquiring an additional 13,729 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Root by 1,264.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 497,906 shares of the company’s stock valued at $981,000 after acquiring an additional 461,428 shares during the period. Finally, Deuterium Capital Management LLC bought a new stake in shares of Root during the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 51.96% of the company’s stock.
Root stock opened at $1.43 on Monday. Root has a 12 month low of $1.11 and a 12 month high of $14.70. The company has a market capitalization of $363.94 million, a price-to-earnings ratio of -0.72 and a beta of -0.32. The business’s fifty day simple moving average is $1.63 and its two-hundred day simple moving average is $2.20.
About Root (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.
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