Wells Fargo & Company Raises Root (NASDAQ:ROOT) Price Target to $97.00

Root (NASDAQ:ROOT - Free Report) had its price objective raised by Wells Fargo & Company from $80.00 to $97.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on ROOT. Citizens Jmp cut shares of Root from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $90.00 price objective (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th. JMP Securities downgraded shares of Root from an "outperform" rating to a "market perform" rating in a research note on Friday, November 22nd. Finally, UBS Group boosted their target price on Root from $61.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.83.

Root Stock Down 5.6 %

NASDAQ:ROOT traded down $7.59 during trading hours on Thursday, hitting $127.58. 1,062,330 shares of the company's stock traded hands, compared to its average volume of 509,008. The firm has a market cap of $1.93 billion, a P/E ratio of -103.72 and a beta of 2.58. Root has a twelve month low of $34.04 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock's fifty day moving average price is $94.20 and its two-hundred day moving average price is $71.54.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versor Investments LP acquired a new stake in shares of Root during the third quarter valued at about $216,000. Dynamic Technology Lab Private Ltd bought a new position in Root in the 3rd quarter valued at about $539,000. Quantbot Technologies LP grew its stake in shares of Root by 120.0% in the 3rd quarter. Quantbot Technologies LP now owns 14,836 shares of the company's stock worth $561,000 after acquiring an additional 8,092 shares in the last quarter. FMR LLC lifted its position in shares of Root by 966.2% during the 3rd quarter. FMR LLC now owns 18,040 shares of the company's stock worth $682,000 after buying an additional 16,348 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company's stock worth $194,000 after acquiring an additional 2,889 shares during the period. Institutional investors and hedge funds own 59.82% of the company's stock.

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.