Progressive Corp. [NYSE: PGR] loss -0.11% on the last trading session, reaching $251.60 price per share at the time.
If compared to the average trading volume of 2.33M shares, PGR reached a trading volume of 3756215 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying about Progressive Corp. [PGR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGR shares is $275.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGR stock is a recommendation set at 1.88. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Progressive Corp. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on September 05, 2024. While these analysts kept the previous recommendation, Goldman raised their target price from $230 to $262. The new note on the price target was released on August 15, 2024, representing the official price target for Progressive Corp. stock. Previously, the target price had yet another raise to $253, while HSBC Securities analysts kept a Buy rating on PGR stock. On July 17, 2024, analysts increased their price target for PGR shares from 210 to 245.
The Average True Range (ATR) for Progressive Corp. is set at 4.72, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 2.17. The Price to Book ratio for the last quarter was 6.31. Price to Free Cash Flow for PGR in the course of the last twelve months was 11.23.
Trading performance analysis for PGR stock
Progressive Corp. [PGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, PGR shares dropped by -1.84% in over the last four-week period, additionally plugging by 20.76% over the last 6 months – not to mention a rise of 63.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGR stock in for the last two-week period is set at 51.53, with the RSI for the last a single of trading hit 48.70, and the three-weeks RSI is set at 54.40 for Progressive Corp. [PGR]. The present Moving Average for the last 50 days of trading for this stock 246.01, while it was recorded at 252.02 for the last single week of trading, and 211.57 for the last 200 days.
Progressive Corp. [PGR]: A deeper dive into fundamental analysis
Progressive Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.74.
Progressive Corp. [PGR]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Progressive Corp. posted 2.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.72/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.37. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Progressive Corp. go to 39.67%.
An analysis of Institutional ownership at Progressive Corp. [PGR]
There are presently around $86.91%, or 87.15%% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 52.22 million shares, which is approximately 8.9201%. BLACKROCK INC., holding 48.46 million shares of the stock with an approximate value of $$10.07 billion in PGR stocks shares; and BLACKROCK INC., currently with $$5.06 billion in PGR stock with ownership which is approximately 4.1627%.
