Root (NASDAQ:ROOT) Shares Gap Up – What’s Next?

Root, Inc. (NASDAQ:ROOT)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $160.26, but opened at $168.42. Root shares last traded at $174.77, with a volume of 202,548 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group increased 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 reissued a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Root Trading Up 11.3 %

The stock’s fifty day moving average price is $114.28 and its 200 day moving average price is $81.77. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $2.71 billion, a P/E ratio of -145.01 and a beta of 2.48.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $326.70 million for the quarter, compared to analysts’ expectations of $287.79 million. Research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Institutional Trading of Root

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of Root by 12.0% in the 4th quarter. California State Teachers Retirement System now owns 7,477 shares of the company’s stock valued at $543,000 after buying an additional 801 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Root by 69.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,421 shares of the company’s stock valued at $611,000 after buying an additional 3,459 shares in the last quarter. State of Wyoming boosted its holdings in shares of Root by 21.6% in the 4th quarter. State of Wyoming now owns 4,162 shares of the company’s stock valued at $302,000 after buying an additional 740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Root by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,912 shares of the company’s stock valued at $357,000 after buying an additional 171 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Root in the 4th quarter valued at about $248,000. 59.82% of the stock is currently owned by institutional investors.

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.