Throughout the last three months, 11 analysts have evaluated Progressive PGR, offering a diverse set of opinions from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 8 | 2 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 3 | 1 | 0 | 0 |
| 2M Ago | 0 | 3 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 1 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $286.55, a high estimate of $335.00, and a low estimate of $237.00. This current average has increased by 1.61% from the previous average price target of $282.00.
Decoding Analyst Ratings: A Detailed Look
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 |
|---|---|---|---|---|---|
| Bob Huang | Morgan Stanley | Lowers | Overweight | $300.00 | $310.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Lowers | Outperform | $294.00 | $295.00 |
| Alex Scott | Barclays | Lowers | Equal-Weight | $261.00 | $277.00 |
| Jimmy Bhullar | JP Morgan | Raises | Overweight | $256.00 | $251.00 |
| C. Gregory Peters | Raymond James | Announces | Outperform | $305.00 | - |
| Michael Zaremski | BMO Capital | Lowers | Outperform | $267.00 | $273.00 |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $302.00 | $299.00 |
| Bob Huang | Morgan Stanley | Maintains | Overweight | $310.00 | $310.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $335.00 | $331.00 |
| Andrew Kligerman | TD Cowen | Raises | Hold | $237.00 | $197.00 |
| David Motemaden | Evercore ISI Group | Raises | Outperform | $285.00 | $277.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information offers a snapshot of how analysts perceive 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: 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.
To gain a panoramic view of Progressive's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Progressive analyst ratings.
Get to Know Progressive Better
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 displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 26.74%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Financials sector.
Net Margin: Progressive's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 11.84%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Progressive's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 9.24%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Progressive's ROA excels beyond industry benchmarks, reaching 2.3%. This signifies efficient management of assets and strong financial health.
Debt Management: Progressive's debt-to-equity ratio is below the industry average at 0.25, reflecting a lower dependency on debt financing and a more conservative financial approach.
How Are Analyst Ratings Determined?
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 publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
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