Root (NASDAQ:ROOT) Releases Earnings Results, Beats Estimates By $1.93 EPS

Root (NASDAQ:ROOT) announced its earnings results on Wednesday. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.93, Zacks reports. 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 the consensus estimate of $287.79 million.

Root Price Performance

Shares of NASDAQ ROOT opened at $123.95 on Friday. Root has a fifty-two week low of $23.04 and a fifty-two week high of $141.23. The company has a 50 day simple moving average of $92.96 and a two-hundred day simple moving average of $70.57. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -100.77 and a beta of 2.58. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company upped their target price on shares of Root from $80.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday. Citizens Jmp lowered shares of Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $90.00 price target (up from $82.00) on shares of Root in a research report on Tuesday, November 5th. Finally, JMP Securities lowered shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.83.

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.