Scotiabank Thinks Roots Corporation’s Stock is Going to Recover

By Austin Angelo

Wall Street analyst has provided a review on December 5, and retained the same rating on the stock. Analyst Patricia Baker remains bullish on Roots Corporation (ROOTResearch Report) and has a C$5 price target.

According to TipRanks.com, Baker is a 3-star analyst with an average return of 2.0% and a 54.4% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Loblaw Companies Limited, and Kroger Company.

Roots Corporation has an analyst consensus of Moderate Buy, with a price target consensus of C$7.72, a 123.1% upside from current levels. In a report issued on November 30, National Bank also maintained a Buy rating on the stock with a C$7.50 price target.

.

Roots Corporation’s market cap is currently C$145.7M and has a P/E ratio of 8.9. The company has a Price to Book ratio of 0.74.

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$3.46, close to its 52-week low of C$3.21.