Roots Corporation (ROOT) Gets a Hold Rating from CIBC

Wall Street analyst has provided a review yesterday, and retained the same rating on the stock. 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 #4630 out of 5121 analysts.

Currently, the analyst consensus on Roots Corporation is a Moderate Buy with an average price target of C$8.61, a 153.2% upside from current levels. In a report released today, RBC Capital also maintained a Hold rating on the stock with a C$4.50 price target.

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Based on Roots Corporation’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of C$2.8 million. In comparison, last year the company had a net profit of C$4.98 million.

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 Thursday at C$3.40, close to its 52-week low of C$3.21.

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