UBS Group Forecasts Strong Price Appreciation for Root (NASDAQ:ROOT) Stock

Root (NASDAQ:ROOT - Free Report) had its price objective upped by UBS Group from $67.00 to $130.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

ROOT has been the topic of a number of other reports. Wells Fargo & Company reaffirmed a "buy" rating on shares of Root in a research note on Sunday, March 2nd. Citizens Jmp lowered shares of Root from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. JMP Securities lowered shares of Root from an "outperform" rating to a "market perform" rating in a research note on Friday, November 22nd. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. 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. According to MarketBeat, Root has an average rating of "Moderate Buy" and an average price target of $88.33.

Root Price Performance

Shares of ROOT stock traded up $5.56 during mid-day trading on Friday, hitting $133.88. 846,795 shares of the stock were exchanged, compared to its average volume of 505,574. The firm has a fifty day moving average of $100.15 and a 200 day moving average of $74.35. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root has a 52-week low of $34.04 and a 52-week high of $145.34. The company has a market cap of $2.02 billion, a PE ratio of -108.85 and a beta of 2.48.

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Root (NASDAQ:ROOT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (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 business had revenue of $326.70 million for the quarter, compared to analyst estimates of $287.79 million. Research analysts anticipate that Root will post -0.08 earnings per share for the current year.

Institutional Trading of Root

A number of hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 acquiring an additional 3,459 shares during the last quarter. State of Wyoming raised its holdings in Root by 21.6% in the 4th quarter. State of Wyoming now owns 4,162 shares of the company's stock valued at $302,000 after acquiring an additional 740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Root by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company's stock valued at $357,000 after acquiring an additional 171 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Root in the 4th quarter valued at about $248,000. Finally, Deutsche Bank AG raised its holdings in Root by 47.4% in the 4th quarter. Deutsche Bank AG now owns 7,818 shares of the company's stock valued at $568,000 after acquiring an additional 2,513 shares during the last quarter. 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.