1 week Ago By Defense World Staff
Root (NASDAQ:ROOT – Get Free Report) had its target price hoisted by equities researchers at Jefferies Financial Group from $115.00 to $150.00 in a research note issued on Friday,Benzinga reports.
The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 25.00% from the stock’s current price.
Several other brokerages have also recently issued reports on ROOT. Scotiabank reissued a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group raised their target price on shares of Root from $67.
00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company increased their price target on Root from $97.
00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock.
Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.67.
Read Our Latest Analysis on ROOTRoot Price PerformanceRoot stock opened at $120.00 on Friday. The firm’s fifty day moving average is $128.
85 and its 200 day moving average is $92.07. The company has a quick ratio of 1.
39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65.
The company has a market cap of $1.82 billion, a price-to-earnings ratio of -97.56 and a beta of 2.
41. Root has a 52-week low of $34.04 and a 52-week high of $181.
14. Root (NASDAQ:ROOT – Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.
30 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $287.79 million.
Sell-side analysts forecast that Root will post -0.08 EPS for the current fiscal year. Insider Transactions at RootIn other news, Director Doug Ulman sold 2,000 shares of Root stock in a transaction dated Monday, March 24th.
The shares were sold at an average price of $175.00, for a total value of $350,000.00.
Following the sale, the director now owns 6,201 shares in the company, valued at $1,085,175. This trade represents a 24.39 % decrease in their ownership of the stock.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mahtiyar Bonakdarpour sold 5,515 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $124.
78, for a total value of $688,161.70. Following the completion of the transaction, the insider now owns 286,901 shares in the company, valued at approximately $35,799,506.
78. This trade represents a 1.89 % decrease in their position.
The disclosure for this sale can be found here. Insiders have sold 8,659 shares of company stock worth $1,191,469 over the last 90 days. 11.
71% of the stock is currently owned by company insiders. Institutional Inflows and OutflowsA number of institutional investors have recently bought and sold shares of the business. T.
Rowe Price Investment Management Inc. acquired a new position in shares of Root during the 4th quarter valued at about $29,661,000. Connor Clark & Lunn Investment Management Ltd.
lifted its position in Root by 163.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd.
now owns 127,923 shares of the company’s stock valued at $9,286,000 after buying an additional 79,317 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Root by 41.8% during the fourth quarter.
Renaissance Technologies LLC now owns 263,515 shares of the company’s stock worth $19,129,000 after buying an additional 77,699 shares during the period. Vanguard Group Inc. increased its position in shares of Root by 16.
2% during the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock valued at $38,250,000 after acquiring an additional 73,413 shares during the last quarter.
Finally, BNP Paribas Financial Markets acquired a new position in Root during the fourth quarter worth $3,834,000. 59.82% of the stock is owned by hedge funds and other institutional investors.
About Root (Get Free Report)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.Recommended StoriesFive stocks we like better than RootWhat Does a Gap Up Mean in Stocks? How to Play the GapRobinhood Strategies Could Be a Game-Changer for Young InvestorsWant to Profit on the Downtrend? Downtrends, Explained.Are These 3 Retail Stocks Oversold or Really in Trouble?Pros And Cons Of Monthly Dividend StocksIONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are Ahead.
