Ratings for Progressive (NYSE:PGR) were provided by 11 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
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 | 4 | 6 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 3 | 1 | 0 | 0 |
| 2M Ago | 0 | 2 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 0 | 0 | 0 |
Analysts have recently evaluated Progressive and provided 12-month price targets. The average target is $253.0, accompanied by a high estimate of $293.00 and a low estimate of $232.00. Marking an increase of 2.2%, the current average surpasses the previous average price target of $247.55.
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 | $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: 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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Progressive's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Capture valuable insights into Progressive's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Progressive analyst ratings.
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.
Breaking Down Progressive's Financial Performance
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.
Revenue Growth: Progressive's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 20.56%. This signifies a substantial 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 lags behind industry averages, suggesting 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 stands out, surpassing industry averages. With an impressive ROE of 11.13%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Progressive's ROA stands out, surpassing industry averages. With an impressive ROA of 2.53%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Progressive's debt-to-equity ratio surpasses industry norms, standing at 0.32. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Analyst Ratings: What Are They?
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
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.