Analyst Matthew Heimermann from Citi maintained a Buy rating on Progressive and keeping the price target at $312.00.
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Matthew Heimermann has given his Buy rating due to a combination of factors that suggest a positive outlook for Progressive’s stock. He anticipates that the company’s performance in the next three months will exceed market expectations, which could lead to upward revisions in earnings estimates for 2026. This anticipated outperformance is expected to be driven by sustained improvements in profit margins, which should enhance investor sentiment and the stock’s valuation.
Heimermann also notes that while the company’s revenue growth has stabilized, the focus on improving earnings per share (EPS) is likely to have a favorable impact on the stock’s perception in the market. His analysis places Progressive’s future performance nearly 10% above the consensus forecast over the coming year, reinforcing his confidence in the stock’s potential for appreciation.
In another report released on August 21, KBW also maintained a Buy rating on the stock with a $268.00 price target.
Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PGR in relation to earlier this year.