Providing a diverse range of perspectives from bullish to bearish, 19 analysts have published ratings on Progressive PGR in the last three months.
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 | 5 | 8 | 6 | 0 | 0 |
| Last 30D | 1 | 1 | 0 | 0 | 0 |
| 1M Ago | 2 | 4 | 5 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 1 | 2 | 1 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $221.32, a high estimate of $264.00, and a low estimate of $175.00. Observing a 8.91% increase, the current average has risen from the previous average price target of $203.22.
Interpreting Analyst Ratings: A Closer Look
In examining recent analyst actions, we gain insights into 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 |
|---|---|---|---|---|---|
| Bob Huang | Morgan Stanley | Raises | Overweight | $256.00 | $247.00 |
| Yaron Kinar | Jefferies | Raises | Buy | $245.00 | $241.00 |
| Elyse Greenspan | Wells Fargo | Raises | Overweight | $238.00 | $232.00 |
| Bob Huang | Morgan Stanley | Raises | Overweight | $247.00 | $228.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Market Perform | $200.00 | $190.00 |
| Jimmy Bhullar | JP Morgan | Raises | Overweight | $202.00 | $171.00 |
| Joshua Shanker | B of A Securities | Lowers | Buy | $264.00 | $265.00 |
| Paul Newsome | Piper Sandler | Maintains | Overweight | $240.00 | - |
| Vikram Gandhi | HSBC | Raises | Hold | $200.00 | $174.00 |
| Alex Scott | Goldman Sachs | Raises | Neutral | $216.00 | $161.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Market Perform | $190.00 | $185.00 |
| Harry Fong | Roth MKM | Raises | Buy | $235.00 | $215.00 |
| Michael Ward | Citigroup | Raises | Neutral | $202.00 | $192.00 |
| Bob Huang | Morgan Stanley | Raises | Overweight | $227.00 | $185.00 |
| Joshua Shanker | B of A Securities | Raises | Buy | $261.00 | $256.00 |
| Meyer Shields | Keefe, Bruyette & Woods | Raises | Market Perform | $175.00 | $158.00 |
| Harry Fong | Roth MKM | Raises | Buy | $200.00 | $185.00 |
| Michael Zaremski | BMO Capital | Raises | Outperform | $200.00 | $185.00 |
| Paul Newsome | Piper Sandler | Raises | Overweight | $207.00 | $188.00 |
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: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Progressive compared to the broader market.
- Price Targets: Gaining insights, analysts provide 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.
All You Need to Know About Progressive
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: Financial Performance Dissected
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 25.41% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 11.71%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 10.78%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.27%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 0.35, Progressive faces challenges in effectively managing its debt levels, indicating potential financial strain.
What Are Analyst Ratings?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically 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.
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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