Analyst Rating Update on Progressive Corporation (The) (PGR)

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. 7 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 16 Wall Street Analysts endorse the stock as a Hold with a rating of 2.83.

Progressive Corporation (The) (PGR) : 11 investment research analysts covering Progressive Corporation (The) (PGR) have an average price target of $32 for the near short term. The highest target price given by the Brokerage Firm to the stock is $36 and the lowest target is $27 for the short term. Analysts expect the variance to be within $2.9 of the average price.

Company shares have received an average consensus rating of Hold for the current week Also, Citigroup downgrades its view on Progressive Corporation (The) (NYSE:PGR) according to the research report released by the firm to its investors. The shares have now been rated Sell by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. Citigroup lowers the price target from $36 per share to $31 per share on Progressive Corporation (The). The rating by the firm was issued on June 2, 2016.


Progressive Corporation (The) (NYSE:PGR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.65 and $32.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.09. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.01, notching a gain of 1.41% for the day. The total traded volume was 4,301,880 . The stock had closed at $32.55 on the previous day.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.