In a report issued on September 11, Scotia Capital from Scotiabank maintained a Hold rating on Root (ROOT), with a price target of $2.00. The company’s shares closed last Monday at $17.02, close to its 52-week low of $16.87.
Root has an analyst consensus of Moderate Buy, with a price target consensus of $21.92, implying a 21.9% upside from current levels. In a report issued on November 22, Goldman Sachs also initiated coverage with a Hold rating on the stock with a $20.00 price target.
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Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ROOT in relation to earlier this year.
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Root Inc develops and launches a direct-to-consumer personal automobile insurance and mobile technology company. It is a direct-to-consumer personal auto insurance, renters insurance and mobile technology company. The company offers renters insurance in Arkansas, Missouri, Ohio, Georgia, Kentucky, Nevada, Tennessee, and Utah, and auto insurance to drivers in Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, New Mexico, Nevada, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and West Virginia. It generates revenue from the sale of auto insurance policies within the United States.
