PROGRESSIVE CORP (NYSE:PGR) is a candidate for high growth investors. Here's why.

Our stock screener has spotted PROGRESSIVE CORP (NYSE:PGR) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:PGR.

Zooming in on the technicals.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Overall PGR gets a technical rating of 10 out of 10. Both in the recent history as in the last year, PGR has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, PGR did better than 94% of all other stocks. We also observe that the gains produced by PGR over the past year are nicely spread over this period.
• PGR is part of the Insurance industry. There are 141 other stocks in this industry. PGR outperforms 92% of them.
• PGR is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month PGR has a been trading in the 245.30 - 260.46 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of PGR for a complete technical analysis.

How does the Setup look for NYSE:PGR

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:PGR has a 8 as its setup rating, indicating its current consolidation status.

PGR has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 259.25. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.

What matters for high growth investors.

• The quarterly earnings of PROGRESSIVE CORP have shown a 563.0% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• PROGRESSIVE CORP has demonstrated strong quarter-to-quarter (Q2Q) revenue growth of 21.64%, reflecting its ability to generate consistent increases in sales. This growth highlights the company's effective market positioning and its potential for continued success.
• With impressive 1-year revenue growth of 21.33%, PROGRESSIVE CORP showcases its ability to generate increased sales and revenue. This growth highlights the company's strong customer demand and its effective business strategies.
• The average next Quarter EPS Estimate by analysts was adjusted by 20.16%, reflecting the evolving market expectations for the company's EPS growth.
• The recent financial report of PROGRESSIVE CORP demonstrates a 563.0% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• PROGRESSIVE CORP shows accelerating EPS growth: when comparing the current Q2Q growth of 563.0% to the previous year Q2Q growth of -62.62%, we see the growth rate improving.
• With a favorable trend in its operating margin over the past year, PROGRESSIVE CORP demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• The free cash flow (FCF) of PROGRESSIVE CORP has seen steady growth over the past year, indicating enhanced cash flow generation and financial health. This trend underscores the company's effective capital management and its ability to generate sustainable cash flows.
• PROGRESSIVE CORP exhibits a strong Return on Equity (ROE) of 29.4%, indicating the company's ability to generate solid returns on shareholder investments. This metric reflects the company's efficient utilization of equity capital and its profitability.
• Maintaining a Debt-to-Equity ratio of 0.3, PROGRESSIVE CORP demonstrates a conservative financial approach. This signifies the company's focus on minimizing debt burdens while preserving a solid equity position.
• PROGRESSIVE CORP exhibits a favorable ownership structure, with an institutional shareholder ownership of 84.37%. This signifies a diverse investor base, which can contribute to a more stable and efficient market for the stock.
• PROGRESSIVE CORP has a strong history of beating EPS estimates in the last 4 quarters, signaling its ability to consistently exceed market expectations. This indicates the company's strong financial performance and its potential for creating shareholder value.
• The Relative Strength (RS) of PROGRESSIVE CORP has been consistently solid, with a current 94.38 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. PROGRESSIVE CORP exhibits strong prospects for further price appreciation.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout screen.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.