Those aiming for above-average market returns often engage in the meticulous process of stock picking. Choosing the right stocks can make a substantial difference in your wealth.
Root Inc (NASDAQ: ROOT) closed the day trading at $53.72 down -13.13% from the previous closing price of $61.84. In other words, the price has decreased by -$13.13 from its previous closing price. On the day, 0.67 million shares were traded. ROOT stock price reached its highest trading level at $63.24 during the session, while it also had its lowest trading level at $52.66.
Ratios:
For a better understanding of ROOT, let’s look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 1.08 whereas as Long-Term Debt/Eq ratio is at 1.07.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Jefferies on March 01, 2024, Upgraded its rating to Buy and sets its target price to $40 from $10 previously.
On February 26, 2024, Keefe Bruyette Upgraded its rating to Outperform which previously was Mkt Perform and also upped its target price recommendation from $10 to $22.
Cantor Fitzgerald Upgraded its Neutral to Overweight on February 22, 2024, whereas the target price for the stock was revised from $9 to $13.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 05 ’23 when Allison Jonathan sold 4,000 shares for $14.18 per share. The transaction valued at 56,700 led to the insider holds 76,766 shares of the business.
Allison Jonathan sold 4,000 shares of ROOT for $44,412 on Dec 01 ’23. The Chief Administrative Officer now owns 80,766 shares after completing the transaction at $11.10 per share. On Nov 15 ’23, another insider, Allison Jonathan, who serves as the Chief Administrative Officer of the company, sold 8,000 shares for $9.88 each. As a result, the insider received 79,024 and left with 84,780 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ROOT now has a Market Capitalization of 784312000 and an Enterprise Value of 642464000. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.72 while its Price-to-Book (P/B) ratio in mrq is 4.70. Its current Enterprise Value per Revenue stands at 1.412 whereas that against EBITDA is -7.63.
Stock Price History:
The Beta on a monthly basis for ROOT is 2.80, which has changed by 12.6 over the last 52 weeks, in comparison to a change of 0.2160933 over the same period for the S&P500. Over the past 52 weeks, ROOT has reached a high of $85.99, while it has fallen to a 52-week low of $3.63. The 50-Day Moving Average of the stock is 30.61%, while the 200-Day Moving Average is calculated to be 201.78%.
Shares Statistics:
Over the past 3-months, ROOT traded about 761.15K shares per day on average, while over the past 10 days, ROOT traded about 682090 shares per day. A total of 9.50M shares are outstanding, with a floating share count of 6.47M. Insiders hold about 55.66% of the company’s shares, while institutions hold 25.58% stake in the company. Shares short for ROOT as of 1711584000 were 1341462 with a Short Ratio of 1.76, compared to 1709164800 on 1243761. Therefore, it implies a Short% of Shares Outstanding of 1341462 and a Short% of Float of 14.34.
Earnings Estimates
Investors are keenly observing as 6 analysts analyze and rate the current performance of Root Inc (ROOT) in the stock market.On average, analysts expect EPS of -$2.53 for the current quarter, with a high estimate of -$1.96 and a low estimate of -$3.02, while EPS last year was -$2.88. The consensus estimate for the next quarter is -$2.47, with high estimates of -$2.17 and low estimates of -$2.83.
Analysts are recommending an EPS of between -$8.26 and -$11.01 for the fiscal current year, implying an average EPS of -$9.38. EPS for the following year is -$6.87, with 6 analysts recommending between -$5.35 and -$9.
Revenue Estimates
6 analysts predict $200.82M in revenue for the current quarter. It ranges from a high estimate of $236.49M to a low estimate of $173.24M. As of the current estimate, Root Inc’s year-ago sales were $64.18M, an estimated increase of 212.90% from the year-ago figure.
A total of 6 analysts have provided revenue estimates for ROOT’s current fiscal year. The highest revenue estimate was $1.04B, while the lowest revenue estimate was $859.4M, resulting in an average revenue estimate of $921.46M. In the same quarter a year ago, actual revenue was $453.5M, up 103.20% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $1.22B in the next fiscal year. The high estimate is $1.35B and the low estimate is $1.14B. The average revenue growth estimate for next year is up 32.00% from the average revenue estimate for this year.
