PROGRESSIVE CORP (NYSE:PGR) – A High Growth Momentum Stock with Strong Technical Setup

PROGRESSIVE CORP (NYSE:PGR) stands out as a compelling candidate for high-growth momentum investors, combining strong earnings momentum with a favorable technical breakout pattern. The stock meets key criteria for growth and technical strength, making it worth a closer look.

Growth Momentum Highlights

• Earnings Growth: PGR has delivered impressive year-over-year EPS growth of 62.9% (TTM), with recent quarterly growth rates remaining strong at 24.7% (most recent quarter) and 37.4% (previous quarter).
• Profit Margins Expanding: The company’s profit margin improved to 12.6% in the latest quarter, up from 6.2% two years ago, reflecting better operational efficiency.
• Free Cash Flow Surge: Free cash flow per share grew 140.8% over the past year, indicating strong cash generation.
• Analyst Upgrades: EPS estimates for the next year have been revised upward by 8.0% over the last three months, signaling improving sentiment.

Technical Strength & Setup

• Technical Rating (9/10): PGR is in a strong uptrend, outperforming 90% of stocks over the past year and ranking in the top 14% of its industry.
• Consolidation Pattern: The stock has been trading in a range between 254.21 and 287.49 over the past month, forming a potential breakout setup.
• Support & Resistance: Key resistance sits near 282.21-285.08, with a breakout above this zone potentially signaling further upside.
• Institutional Interest: Large players have shown increased buying activity, reinforcing the bullish setup.

For a deeper technical breakdown, review the full technical report for PGR.

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Disclaimer

This is not investment advice. Always conduct your own research and consider risk management before making investment decisions.