Root (NASDAQ:ROOT) Shares Down 4.3%

Root, Inc. (NASDAQ:ROOT)’s share price was down 4.3% during mid-day trading on Thursday . The stock traded as low as $34.72 and last traded at $34.79. Approximately 98,479 shares traded hands during trading, a decline of 80% from the average daily volume of 503,577 shares. The stock had previously closed at $36.34.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ROOT shares. UBS Group reduced their target price on shares of Root from $71.00 to $61.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $82.00 price target (down previously from $88.00) on shares of Root in a research report on Friday, August 16th. Finally, TD Cowen raised their price target on shares of Root from $11.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.78.

Root Stock Up 8.6 %

The firm has a market cap of $605.40 million, a PE ratio of -5.19 and a beta of 2.54. The business’s 50 day moving average price is $54.04 and its 200 day moving average price is $54.48. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.43 and a quick ratio of 1.43.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.74) by $1.22. The business had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The company’s quarterly revenue was up 286.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.55) earnings per share. On average, equities research analysts expect that Root, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Root

Several large investors have recently bought and sold shares of the business. Cannell Capital LLC grew its stake in Root by 144.0% during the 4th quarter. Cannell Capital LLC now owns 717,043 shares of the company’s stock valued at $7,515,000 after acquiring an additional 423,120 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Root during the 2nd quarter valued at about $9,547,000. Driehaus Capital Management LLC purchased a new stake in Root during the 2nd quarter valued at about $9,154,000. Trexquant Investment LP grew its stake in Root by 43.4% during the 4th quarter. Trexquant Investment LP now owns 46,570 shares of the company’s stock valued at $488,000 after acquiring an additional 14,096 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Root during the 1st quarter valued at about $1,997,000. Hedge funds and other institutional investors 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.