Throughout the last three months, 11 analysts have evaluated Progressive PGR, offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 3 | 6 | 1 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 3 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 3 | 1 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $169.09, a high estimate of $207.00, and a low estimate of $112.00. Witnessing a positive shift, the current average has risen by 10.6% from the previous average price target of $152.88.
Understanding Analyst Ratings: A Comprehensive Breakdown
An in-depth analysis of recent analyst actions unveils how financial experts perceive Progressive. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Paul Newsome | Piper Sandler | Raises | Overweight | $207.00 | $188.00 |
| Brian Meredith | UBS | Raises | Neutral | $170.00 | $159.00 |
| Andrew Kligerman | TD Cowen | Announces | Market Perform | $174.00 | - |
| Vikram Gandhi | HSBC | Announces | Hold | $164.00 | - |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $176.00 | $144.00 |
| Tracy Benguigui | Barclays | Raises | Underweight | $112.00 | $111.00 |
| Harry Fong | Roth MKM | Maintains | Buy | $185.00 | - |
| Paul Newsome | Piper Sandler | Raises | Overweight | $188.00 | $186.00 |
| Bob Huang | Morgan Stanley | Raises | Equal-Weight | $164.00 | $160.00 |
| Alex Scott | Goldman Sachs | Raises | Neutral | $160.00 | $140.00 |
| Bob Huang | Morgan Stanley | Raises | Equal-Weight | $160.00 | $135.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Progressive. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Progressive compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Progressive's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into Progressive's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Progressive analyst ratings.
Delving into Progressive's Background
Progressive underwrites private and commercial auto insurance and specialty lines; it has about 18 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
Unraveling the Financial Story of Progressive
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Progressive's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2023, the company achieved a revenue growth rate of approximately 21.75%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Progressive's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 7.14%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Progressive's ROE excels beyond industry benchmarks, reaching 6.71%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.32%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 0.41, Progressive faces challenges in effectively managing its debt levels, indicating potential financial strain.
Understanding the Relevance of Analyst Ratings
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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