Canaccord Genuity Thinks Roots Corporation’s Stock is Going to Recover


Roots Corporation (ROOT), was revisited today, and remains undervalued for at least one analyst on the street. Analyst Camilo Lyon from Canaccord Genuity reiterated a Buy rating, with a C$5.50 price target.

According to TipRanks.com, Lyon has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.1% and a 42.6% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica Inc, Columbia Sportswear, and The Lovesac Company.

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Currently, the analyst consensus on Roots Corporation is a Moderate Buy with an average price target of C$5.50, implying a 22.2% upside from current levels. In a report released today, National Bank also maintained a Buy rating on the stock with a C$6.50 price target.

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Roots Corporation’s market cap is currently C$177.7M and has a P/E ratio of 13. The company has a Price to Book ratio of 0.91.

Roots Corp. engages in the provision of leather goods, apparel, and accessories. It operates through the Direct-to-consumer ( DTC); and Partners and Other segments. The Direct-to-consumer segment comprises of sales through its corporate retail stores, and e-commerce.

The company’s shares closed on Thursday at C$4.50, close to its 52-week low of C$2.91.

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