Progressive Corporation (The) (PGR) : 4 brokerage houses believe that Progressive Corporation (The) (PGR) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Progressive Corporation (The) (PGR). Zacks Investment Research suggests a Sell with a rank of 4. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 3 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 14 Wall Street Analysts endorse the stock as a Hold with a rating of 2.81.
Progressive Corporation (The) (PGR) : The highest level Progressive Corporation (The) (PGR) is projected to reach is $36 for the short term and the lowest estimate is at $27. The consolidated price target from 9 rating analysts who initiate coverage on the stock is $31.67 and the possibility the share price can swing is $3.12.
Also, Brokerage firm Citigroup downgrades its rating on Progressive Corporation (The) (NYSE:PGR). As per the latest information, the brokerage house lowers the price target to $31 per share from a prior target of $36. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 2, 2016.
Progressive Corporation (The) (NYSE:PGR): After opening at $30.7, the stock dipped to an intraday low of $30.54 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $31.28 and the buying power remained strong till the end. The stock closed at $31.09 for the day, a gain of 1.04% for the day session. The total traded volume was 4,488,216. The stocks close on the previous trading day was $30.77.
The Progressive Corporation is an insurance holding company. The Companys insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance, commercial auto and truck insurance principally for small businesses, and other specialty property-casualty insurance and related services. The Companys property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.