In the last three months, 19 analysts have published ratings on Progressive PGR, offering a diverse range of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 10 | 2 | 0 | 0 |
| Last 30D | 0 | 2 | 0 | 0 | 0 |
| 1M Ago | 5 | 3 | 1 | 0 | 0 |
| 2M Ago | 1 | 3 | 1 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $250.68, a high estimate of $296.00, and a low estimate of $225.00. Surpassing the previous average price target of $245.58, the current average has increased by 2.08%.
Decoding Analyst Ratings: A Detailed Look
The standing of Progressive among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below 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 |
|---|---|---|---|---|---|
| Michael Zaremski | BMO Capital | Lowers | Outperform | $237.00 | $239.00 |
| David Motemaden | Evercore ISI Group | Raises | Outperform | $246.00 | $243.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $296.00 | $293.00 |
| Michael Zaremski | BMO Capital | Raises | Outperform | $239.00 | $235.00 |
| Michael Ward | Citigroup | Lowers | Neutral | $225.00 | $232.00 |
| Yaron Kinar | Jefferies | Raises | Buy | $257.00 | $256.00 |
| Harry Fong | Roth MKM | Maintains | Buy | $235.00 | $235.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Outperform | $245.00 | $210.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $293.00 | $276.00 |
| Joshua Shanker | B of A Securities | Lowers | Buy | $276.00 | $281.00 |
| Jimmy Bhullar | JP Morgan | Raises | Overweight | $239.00 | $210.00 |
| Harry Fong | Roth MKM | Maintains | Buy | $235.00 | $235.00 |
| Michael Zaremski | BMO Capital | Maintains | Outperform | $235.00 | $235.00 |
| Michael Ward | Citigroup | Raises | Neutral | $232.00 | $230.00 |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $254.00 | $243.00 |
| Bob Huang | Morgan Stanley | Lowers | Overweight | $255.00 | $256.00 |
| Elyse Greenspan | Wells Fargo | Lowers | Overweight | $243.00 | $244.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $286.00 | $279.00 |
| Michael Zaremski | BMO Capital | Raises | Outperform | $235.00 | $234.00 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Progressive. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
Discovering Progressive: A Closer Look
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: A Financial Overview
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Progressive's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 18.11%. 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 8.05%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Progressive's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 6.46%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Progressive's ROA stands out, surpassing industry averages. With an impressive ROA of 1.52%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 0.3, Progressive faces challenges in effectively managing its debt levels, indicating potential financial strain.
How Are Analyst Ratings Determined?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a 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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