In the latest quarter, 21 analysts provided ratings for Progressive PGR, showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 10 | 9 | 2 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 3 | 3 | 1 | 0 | 0 |
| 2M Ago | 2 | 2 | 0 | 0 | 0 |
| 3M Ago | 5 | 3 | 1 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $284.57, with a high estimate of $331.00 and a low estimate of $251.00. Observing a 5.07% increase, the current average has risen from the previous average price target of $270.84.
Breaking Down Analyst Ratings: A Detailed Examination
The analysis of recent analyst actions sheds light on the perception of Progressive by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| David Motemaden | Evercore ISI Group | Raises | Outperform | $285.00 | $277.00 |
| Alex Scott | Barclays | Raises | Equal-Weight | $277.00 | $267.00 |
| Bob Huang | Morgan Stanley | Raises | Overweight | $310.00 | $300.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Outperform | $290.00 | $280.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $331.00 | $319.00 |
| Jimmy Bhullar | JP Morgan | Raises | Overweight | $251.00 | $242.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $319.00 | $309.00 |
| Yaron Kinar | Jefferies | Raises | Buy | $295.00 | $257.00 |
| Alex Scott | Goldman Sachs | Raises | Buy | $280.00 | $262.00 |
| Harry Fong | Roth MKM | Raises | Buy | $290.00 | $270.00 |
| Bob Huang | Morgan Stanley | Raises | Overweight | $300.00 | $260.00 |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $282.00 | $281.00 |
| Alex Scott | Barclays | Announces | Equal-Weight | $267.00 | - |
| Joshua Shanker | B of A Securities | Raises | Buy | $312.00 | $294.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Outperform | $275.00 | $255.00 |
| Joshua Shanker | B of A Securities | Lowers | Buy | $294.00 | $296.00 |
| Harry Fong | Roth MKM | Raises | Buy | $270.00 | $235.00 |
| Paul Newsome | Piper Sandler | Raises | Overweight | $252.00 | $250.00 |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $281.00 | $262.00 |
| Alex Scott | Goldman Sachs | Raises | Buy | $262.00 | $230.00 |
| Vikram Gandhi | HSBC | Announces | Buy | $253.00 | - |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Progressive's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Progressive's market position. Stay informed and make well-judged decisions with the assistance of 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 almost 20 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 US 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.
Progressive's Financial Performance
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, 2024, the company achieved a revenue growth rate of approximately 26.74%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Progressive's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 11.84%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Progressive's ROE stands out, surpassing industry averages. With an impressive ROE of 9.24%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Progressive's ROA stands out, surpassing industry averages. With an impressive ROA of 2.3%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progressive's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.25.
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 also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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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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