Royal Bank of Canada Cuts Roots (ROOT) Price Target to C$6.00
Roots (TSE:ROOT) had its price objective lowered by investment analysts at Royal Bank of Canada from C$10.00 to C$6.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 29.03% from the company’s previous close.
A number of other research firms have also issued reports on ROOT. CIBC reduced their target price on shares of Roots from C$10.00 to C$7.00 in a report on Thursday, November 1st. Jefferies Financial Group reduced their target price on shares of Roots from C$14.00 to C$11.00 in a report on Monday, October 29th. Canaccord Genuity reduced their target price on shares of Roots from C$12.00 to C$9.00 in a report on Friday, October 19th. CSFB reduced their target price on shares of Roots from C$8.50 to C$6.00 in a report on Thursday, October 18th. Finally, National Bank Financial reduced their target price on shares of Roots from C$14.50 to C$13.50 and set an “outperform” rating on the stock in a report on Monday, September 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of C$10.00.
Roots stock traded up C$0.03 during mid-day trading on Tuesday, reaching C$4.65. 60,358 shares of the company’s stock were exchanged, compared to its average volume of 110,873. Roots has a twelve month low of C$4.58 and a twelve month high of C$13.55. The company has a current ratio of 1.69, a quick ratio of 0.25 and a debt-to-equity ratio of 63.40.
Roots Corporation, together with its subsidiaries, provides a portfolio of apparel, leather goods, accessories, and footwear products under the Roots brand. The company operates through two segments, Direct-To-Consumer (DTC), and Partners and Other. The DTC segment sells products through the company's corporate retail stores and e-commerce.
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