Root (NASDAQ:ROOT) Announces Earnings Results, Beats Expectations By $1.93 EPS

Root (NASDAQ:ROOT) posted its quarterly earnings data on Wednesday. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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%.

Root Trading Up 33.5 %

NASDAQ ROOT opened at $129.57 on Thursday. Root has a 12 month low of $20.22 and a 12 month high of $141.23. 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 company has a 50-day moving average of $91.90 and a 200-day moving average of $70.20. The company has a market cap of $1.96 billion, a P/E ratio of -102.16 and a beta of 2.58.

Wall Street Analyst Weigh In

ROOT has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $90.00 price objective (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. Citizens Jmp cut Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price target on Root from $80.00 to $97.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.83.

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.