• Wed. Dec 6th, 2023

News Eyeo

All Important News

Progressive Stock Achieves Membership in the 95-Plus Composite Rating Club


Nov 21, 2023

The IBD SmartSelect Composite Rating for Progressive (PGR) increased from 94 to 96 on Tuesday. The new score indicates that the company is performing better than 96% of all stocks in terms of essential fundamental and technical stock-picking criteria. This criterion is an important benchmark to consider when looking for the best stocks to buy and watch.

Progressive has now surpassed the proper buy zone after clearing the 149.87 entry in a consolidation. It is now best to look for another opportunity either on a pullback to your favorite moving average or a new pattern being formed, which will give a clear entry point.

The company’s weak spot is the 79 EPS Rating, which tracks quarterly and annual earnings-per-share growth. It’s necessary for this to improve to 80 or better to show that it’s in the top 20% of all stocks. Additionally, the Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. It is important to look for the rating to improve to at least a C or better.

In Q3, the company reported 845% earnings-per-share growth, while top-line growth came in at 22%, down from 33% in the previous quarter. Progressive holds the No. 10 rank among its peers in the Insurance-Property/Casualty/Title industry group. Everest Group (EG), Greenlight Cap Re Cl A (GLRE), and Arch Capital Group (ACGL) are among the top 5 highly-rated stocks within the group. If you are looking for winning stocks, there are routines that you can follow to spot the best ones in the market.

By Editor

Leave a Reply