Brokerages Set Root, Inc. (NASDAQ:ROOT) Target Price at $75.00

Shares of Root, Inc. (NASDAQ:ROOT) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $75.00.

A number of research analysts have recently commented on ROOT shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. UBS Group upped their price objective on shares of Root from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, November 4th. JMP Securities lowered shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Citizens Jmp cut shares of Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Root from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th.

Root Price Performance

Root stock opened at $97.09 on Friday. The business’s 50 day simple moving average is $91.36 and its 200 day simple moving average is $70.00. Root has a 12 month low of $17.10 and a 12 month high of $141.23. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -78.93 and a beta of 2.58. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65.

Hedge Funds Weigh In On Root

Several hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Root in the 4th quarter worth approximately $29,661,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Root by 163.2% during 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 period. Renaissance Technologies LLC grew its position 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 in the last quarter. Vanguard Group Inc. increased its stake in Root by 16.2% in the 4th quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock worth $38,250,000 after acquiring an additional 73,413 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Root in the 4th quarter valued at about $3,834,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

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.