Root (NASDAQ:ROOT) Trading Down 8.5% - Time to Sell?

Root, Inc. (NASDAQ:ROOT - Get Free Report) shares traded down 8.5% during trading on Tuesday . The stock traded as low as $121.01 and last traded at $116.75. 117,661 shares changed hands during trading, a decline of 77% from the average session volume of 511,968 shares. The stock had previously closed at $127.58.

Analyst Ratings Changes

Several analysts recently commented on the company. Citizens Jmp cut Root from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. UBS Group upped their target price on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a report on Friday. Scotiabank restated a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. JMP Securities cut Root from an "outperform" rating to a "market perform" rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company restated a "buy" rating on shares of Root in a report on Sunday, March 2nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.33.

Root Trading Up 4.3 %

The firm has a market capitalization of $2.02 billion, a PE ratio of -108.85 and a beta of 2.48. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The business has a fifty day moving average price of $100.15 and a two-hundred day moving average price of $74.35.

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

Hedge Funds Weigh In On Root

Hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings 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 purchasing an additional 16,348 shares during the period. Barclays PLC lifted its stake in Root by 361.6% during the 3rd quarter. Barclays PLC now owns 14,033 shares of the company's stock worth $529,000 after acquiring an additional 10,993 shares in the last quarter. Versor Investments LP acquired a new position in Root during the 3rd quarter worth about $216,000. Nordea Investment Management AB lifted its stake in Root by 7.3% during the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock worth $1,497,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Root during the 3rd quarter worth about $428,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

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.