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

Root (NASDAQ:ROOT) announced its earnings results on Wednesday. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.93, Zacks reports. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%.

Root Stock Up 1.7 %

Shares of NASDAQ ROOT traded up $1.62 during midday trading on Wednesday, hitting $98.71. The company’s stock had a trading volume of 855,911 shares, compared to its average volume of 410,607. The business’s fifty day simple moving average is $91.36 and its two-hundred day simple moving average is $70.00. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. Root has a 1 year low of $20.22 and a 1 year high of $141.23. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -80.25 and a beta of 2.58.

Analyst Ratings Changes

A number of analysts recently weighed in on ROOT shares. Citizens Jmp lowered shares of Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on Root from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $90.00 target price (up from $82.00) on shares of Root in a research report on Tuesday, November 5th. JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Finally, UBS Group boosted their target price on shares of Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.00.

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.