Root (NASDAQ:ROOT – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Root Inc. is the parent company of Root Insurance Company. It is a technology company revolutionizing personal insurance with a pricing model. Root Inc. is based in COLUMBUS, Ohio. “

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Root from $7.00 to $2.07 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Barclays decreased their target price on shares of Root from $3.00 to $1.50 and set an “underweight” rating on the stock in a research report on Monday, February 28th. Finally, UBS Group decreased their target price on shares of Root from $6.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Root has an average rating of “Hold” and a consensus price target of $5.33.

Root stock opened at $1.65 on Thursday. Root has a 12-month low of $1.30 and a 12-month high of $14.70. The firm’s 50-day moving average is $1.81 and its two-hundred day moving average is $2.75.

Root (NASDAQ:ROOT – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $93.20 million for the quarter, compared to analyst estimates of $73.60 million. As a group, equities research analysts expect that Root will post -1.38 EPS for the current fiscal year.

In other Root news, CFO Daniel H. Rosenthal purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were purchased at an average price of $1.52 per share, for a total transaction of $152,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence A. Hilsheimer purchased 28,735 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was acquired at an average price of $1.75 per share, for a total transaction of $50,286.25. The disclosure for this purchase can be found here. Company insiders own 54.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in Root by 28.1% in the first quarter. Advisor Group Holdings Inc. now owns 27,595 shares of the company’s stock worth $54,000 after purchasing an additional 6,050 shares during the period. Full18 Capital LLC acquired a new position in Root in the 1st quarter worth approximately $2,002,000. FNY Investment Advisers LLC boosted its stake in Root by 2,000.0% in the 1st quarter. FNY Investment Advisers LLC now owns 21,000 shares of the company’s stock worth $41,000 after purchasing an additional 20,000 shares during the period. Cedar Brook Financial Partners LLC acquired a new stake in shares of Root during the 1st quarter valued at $30,000. Finally, BlackRock Inc. raised its holdings in shares of Root by 14.2% during the 4th quarter. BlackRock Inc. now owns 1,423,391 shares of the company’s stock valued at $4,412,000 after purchasing an additional 177,443 shares in the last quarter. Institutional investors own 51.96% of the company’s stock.

Root Company Profile (Get Rating)

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.

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