Root (NASDAQ:ROOT) Price Target Raised to $67.00 at UBS Group

Root (NASDAQ:ROOT - Free Report) had its price objective lifted by UBS Group from $61.00 to $67.00 in a research report report published on Monday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald raised Root to a "strong-buy" rating in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of Root from $64.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Friday. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $82.00 price target (down from $88.00) on shares of Root in a research note on Friday, August 16th. JMP Securities restated a "market outperform" rating and issued a $90.00 price objective on shares of Root in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their price objective on Root from $84.00 to $72.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.13.

Root Price Performance

NASDAQ:ROOT traded down $0.05 on Monday, reaching $70.96. The stock had a trading volume of 1,218,028 shares, compared to its average volume of 537,359. The company has a market capitalization of $1.06 billion, a P/E ratio of -57.69 and a beta of 2.34. The stock has a fifty day moving average price of $41.20 and a 200-day moving average price of $51.24. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.98. Root has a 1-year low of $7.22 and a 1-year high of $118.15.

Root (NASDAQ:ROOT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of ($0.61) by $1.96. Root had a negative return on equity of 10.13% and a negative net margin of 1.56%. The business had revenue of $305.70 million for the quarter, compared to analyst estimates of $272.77 million. During the same period in the prior year, the company earned ($3.16) EPS. Root's revenue for the quarter was up 165.1% on a year-over-year basis. Research analysts forecast that Root will post -2.13 EPS for the current year.

Insider Transactions at Root

In other news, major shareholder Meyer Malka sold 50,959 shares of Root stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $84.78, for a total transaction of $4,320,304.02. Following the transaction, the insider now directly owns 102 shares of the company's stock, valued at $8,647.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Root

Several institutional investors and hedge funds have recently modified their holdings of ROOT. Algert Global LLC acquired a new position in shares of Root in the second quarter valued at approximately $288,000. Sequoia Financial Advisors LLC bought a new position in Root during the 1st quarter worth about $293,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Root by 76.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company's stock valued at $306,000 after purchasing an additional 2,576 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Root in the third quarter valued at about $412,000. Finally, Quantbot Technologies LP bought a new position in shares of Root during the first quarter worth about $431,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

About Root

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.