Providing a diverse range of perspectives from bullish to bearish, 16 analysts have published ratings on Progressive PGR in the last three months.
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 | 5 | 8 | 2 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 3 | 1 | 0 |
| 3M Ago | 0 | 3 | 4 | 1 | 0 |
Analysts have set 12-month price targets for Progressive, revealing an average target of $158.75, a high estimate of $188.00, and a low estimate of $112.00. Surpassing the previous average price target of $141.00, the current average has increased by 12.59%.
Investigating Analyst Ratings: An Elaborate Study
The perception of Progressive by financial experts is analyzed through recent analyst actions. 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 |
|---|---|---|---|---|---|
| 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 |
| Michael Zaremski | BMO Capital | Raises | Outperform | $180.00 | $155.00 |
| Elyse Greenspan | Wells Fargo | Raises | Equal-Weight | $144.00 | $128.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Market Perform | $145.00 | $135.00 |
| Michael Ward | Citigroup | Raises | Neutral | $158.00 | $120.00 |
| Michael Zaremski | BMO Capital | Raises | Market Perform | $155.00 | $145.00 |
| C. Gregory Peters | Raymond James | Raises | Outperform | $165.00 | $145.00 |
| Michael Phillips | Morgan Stanley | Raises | Underweight | $135.00 | $124.00 |
| Jimmy Bhullar | JP Morgan | Raises | Overweight | $149.00 | $146.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Progressive. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Progressive's stock. This analysis reveals shifts in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Progressive's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Progressive analyst ratings.
All You Need to Know About Progressive
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.
Understanding the Numbers: Progressive's Finances
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Positive Revenue Trend: Examining Progressive's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 21.75% as of 30 September, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
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 surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.71% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Progressive's ROA stands out, surpassing industry averages. With an impressive ROA of 1.32%, the company demonstrates effective utilization of assets and strong financial performance.
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.
Analyst Ratings: Simplified
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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