Analysts' ratings for Progressive (NYSE:PGR) over the last quarter vary from bullish to bearish, as provided by 20 analysts.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 7 | 7 | 0 | 0 |
| Last 30D | 1 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 1 | 0 | 0 |
| 2M Ago | 3 | 5 | 6 | 0 | 0 |
| 3M Ago | 1 | 1 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $233.0, a high estimate of $286.00, and a low estimate of $190.00. This upward trend is apparent, with the current average reflecting a 6.62% increase from the previous average price target of $218.53.
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 |
|---|---|---|---|---|---|
| Joshua Shanker | B of A Securities | Raises | Buy | $286.00 | $279.00 |
| Michael Zaremski | BMO Capital | Raises | Outperform | $235.00 | $234.00 |
| Brian Meredith | UBS | Raises | Neutral | $218.00 | $216.00 |
| Joshua Shanker | B of A Securities | Lowers | Buy | $273.00 | $279.00 |
| Michael Ward | Citigroup | Raises | Neutral | $225.00 | $202.00 |
| 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 |
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: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Progressive's market position. Stay informed and make well-informed decisions with 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.
Breaking Down Progressive's Financial Performance
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 displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 20.56%. This indicates a notable 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 13.43%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Progressive's ROE excels beyond industry benchmarks, reaching 11.13%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Progressive's ROA excels beyond industry benchmarks, reaching 2.53%. This signifies efficient management of assets and strong financial health.
Debt Management: Progressive's debt-to-equity ratio stands notably higher than the industry average, reaching 0.32. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
How Are Analyst Ratings Determined?
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 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.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
