Root, Inc. (NASDAQ:ROOT – Get Free Report) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 1,400,000 shares, a drop of 16.2% from the February 13th total of 1,670,000 shares. Based on an average daily trading volume, of 492,200 shares, the days-to-cover ratio is presently 2.8 days. Currently, 10.5% of the company’s stock are sold short.
Analyst Ratings Changes
ROOT has been the topic of several recent research reports. Scotiabank reissued a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group upped 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. Citizens Jmp downgraded shares of Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Root presently has an average rating of “Moderate Buy” and a consensus price target of $88.33.
Get Our Latest Research Report on Root
Institutional Trading of Root
Root Stock Performance
Root stock traded down $2.56 during midday trading on Tuesday, reaching $149.79. 283,993 shares of the stock traded hands, compared to its average volume of 511,753. The firm has a fifty day moving average price of $108.11 and a two-hundred day moving average price of $78.60. Root has a fifty-two week low of $34.04 and a fifty-two week high of $154.52. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -121.44 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.
Root (NASDAQ:ROOT – Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of ($0.63) by $1.93. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $326.70 million for the quarter, compared to analysts’ expectations of $287.79 million. On average, equities research analysts forecast that Root will post -0.08 earnings per share for the current year.
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.
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