Brokerages Set Root, Inc. (NASDAQ:ROOT) Target Price at $88.33

Root, Inc. (NASDAQ:ROOT - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $88.33.

ROOT has been the topic of several research reports. UBS Group lifted their price target on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report on Friday, March 7th. Scotiabank restated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. Finally, Wells Fargo & Company reiterated a "buy" rating on shares of Root in a report on Sunday, March 2nd.

Hedge Funds Weigh In On Root

Several large investors have recently modified their holdings of ROOT. California State Teachers Retirement System increased its holdings in Root by 12.0% in the fourth quarter. California State Teachers Retirement System now owns 7,477 shares of the company's stock valued at $543,000 after purchasing an additional 801 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Root by 69.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company's stock valued at $611,000 after buying an additional 3,459 shares during the last quarter. State of Wyoming increased its stake in shares of Root by 21.6% in the fourth quarter. State of Wyoming now owns 4,162 shares of the company's stock valued at $302,000 after buying an additional 740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Root by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock worth $357,000 after acquiring an additional 171 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Root in the fourth quarter worth approximately $248,000. Institutional investors own 59.82% of the company's stock.

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Root Price Performance

NASDAQ ROOT traded up $7.62 on Thursday, hitting $160.26. 913,438 shares of the company's stock were exchanged, compared to its average volume of 504,795. The stock has a 50-day moving average of $114.28 and a 200-day moving average of $81.48. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -130.29 and a beta of 2.48. Root has a 52 week low of $34.04 and a 52 week high of $165.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The business had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Analysts expect that Root will post -0.08 earnings per share for the current year.

Root Company Profile

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.