Roots Corporation (ROOT) Gets a Hold Rating from CIBC

By Austin Angelo

Roots Corporation (ROOTResearch Report), was revisited by a Wall Street analyst today. Analyst Matt Bank from CIBC rated Roots Corporation (ROOTResearch Report) a Hold, setting a C$4.50 price target.

According to TipRanks.com, Bank is ranked #4914 out of 5202 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Roots Corporation with a C$5.25 average price target, implying a 61.5% upside from current levels. In a report issued on June 7, RBC Capital also maintained a Hold rating on the stock with a C$4.50 price target.

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Roots Corporation’s market cap is currently C$142.4M and has a P/E ratio of 12.5. The company has a Price to Book ratio of 0.66.

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 Friday at C$3.25, close to its 52-week low of C$2.91.