Progressive Insurance has been named the IBD Stock Of The Day as its shares rise within a buy zone following a rebound from key support levels. The stock recently cleared a buy point of $217.77, with impressive earnings growth showcased in its last quarter, where earnings per share surged 365% to $2.65, exceeding analyst expectations. Additionally, Progressive’s improved combined ratio reflects its profitability, which is anticipated to enhance further as analysts expect nearly a doubling of EPS for the year. This uptick comes after a period of significant price adjustments amid broader market fluctuations.
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