At the time of writing, Progressive Corp [PGR] stock is trading at $263.44, up 2.50%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PGR shares have gain 2.31% over the last week, with a monthly amount glided 6.55%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Progressive Corp [NYSE: PGR] stock has seen the most recent analyst activity on September 05, 2024, when Barclays initiated its Equal Weight rating and assigned the stock a price target of $367. Previously, Goldman upgraded its rating to Buy on August 15, 2024, and elevated its price target to $262. On August 12, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $253 on the stock. Keefe Bruyette upgraded its rating to a Outperform and increased its price target to $245 on July 17, 2024. Morgan Stanley upgraded its rating to a Overweight and raised its price target to $227 on March 06, 2024. TD Cowen started tracking with a Market Perform rating for this stock on January 10, 2024, and assigned it a price target of $174. In a note dated December 28, 2023, HSBC Securities initiated an Hold rating and provided a target price of $164 on this stock.
For the past year, the stock price of Progressive Corp fluctuated between $148.48 and $263.85. Currently, Wall Street analysts expect the stock to reach $239.5 within the next 12 months. Progressive Corp [NYSE: PGR] shares were valued at $263.44 at the most recent close of the market. An investor can expect a potential drop of -9.09% based on the average PGR price forecast.
Analyzing the PGR fundamentals
According to Progressive Corp [NYSE:PGR], the company’s sales were 71.96B for trailing twelve months, which represents an 26.74% jump. Gross Profit Margin for this corporation currently stands at 1.37% with Operating Profit Margin at 0.13%, Pretax Profit Margin comes in at 0.2%, and Net Profit Margin reading is 0.16%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.47 and Total Capital is 0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.63.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 259.26 points at the first support level, and at 255.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 265.57, and for the 2nd resistance point, it is at 267.69.
Ratios To Look Out For
It is important to note that Progressive Corp [NYSE:PGR] has a current ratio of 0.73. Considering the valuation of this stock, the price to sales ratio is 2.14, the price to book ratio is 5.68 and price to earnings (TTM) ratio is 19.13.
Transactions by insiders
Recent insider trading involved Broz Steven, Chief Information Officer, that happened on Oct 21 ’24 when 2981.0 shares were sold. Officer, Broz Steven completed a deal on Oct 21 ’24 to buy 2981.0 shares. Meanwhile, Director Van Dyke Kahina sold 2180.0 shares on Sep 27 ’24.
