Roots (ROOT) Shares Up 20.2%

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Shares of Roots Corp (TSE:ROOT) shot up 20.2% on Wednesday . The company traded as high as C$3.97 and last traded at C$3.92. 300,549 shares traded hands during trading, an increase of 99% from the average session volume of 151,253 shares. The stock had previously closed at C$3.26.

Several analysts recently commented on the company. Royal Bank of Canada lowered their target price on Roots from C$6.00 to C$4.50 and set a “sector perform” rating on the stock in a research report on Thursday, December 6th. CIBC lowered their target price on Roots from C$7.00 to C$4.50 in a research report on Thursday, December 6th. BMO Capital Markets lowered their target price on Roots from C$13.00 to C$10.00 in a research report on Tuesday, October 23rd. National Bank Financial lowered their target price on Roots from C$7.50 to C$6.00 and set an “outperform” rating on the stock in a research report on Thursday, December 6th. Finally, TD Securities lowered their target price on Roots from C$15.00 to C$12.00 and set an “action list buy” rating on the stock in a research report on Tuesday, November 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$7.72.

The company has a quick ratio of 0.21, a current ratio of 1.69 and a debt-to-equity ratio of 68.35.

In other Roots news, Director James Alan Gabel bought 50,000 shares of the stock in a transaction that occurred on Monday, December 10th. The shares were purchased at an average cost of C$3.29 per share, for a total transaction of C$164,500.00.

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About Roots (TSE:ROOT)

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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