Is It Undervalued? Look at the P/E Ratio: The Progressive Corporation (PGR), Akebia Therapeutics Inc. (AKBA)

You should consider shares of The Progressive Corporation (NYSE:PGR) and Akebia Therapeutics Inc. (NASDAQ:AKBA) if you are looking for a great stocks to invest in. Starting with the PGR shares, which traded at $70.65 at the close of the recent session, dropping -1.40%. On Tuesday, the company’s shares shed -$1.0 from its value which represented in intraday trading. The stock is now 6.58% higher in year-to-date (YTD) trading. PGR’s intraday high was $71.36 while its lowest price touched $70.44. The stock’s 52-week high price is $84.96, which means the current price is at -16.84%. In terms of trading activity, the daily trading volume fell to 2648629 against 200-day average trading volume of 3,027,933 shares.

What are analyst forecasts for The Progressive Corporation (NYSE:PGR)?

At a consensus rating of 4.00, PGR is trending as a streaking Moderate Buy, as it has been the case a month ago when 14 analysts called it a Moderate Buy. Two months ago, 13 analysts recommended, on average, that PGR stock is a Moderate Buy. The Financial company’s shares’ overall bearish trend saw it close higher on Tuesday compared to its opening price of $71.09 on the day.

Forecasts for The Progressive Corporation (NYSE:PGR) give the stock a fair value for the growth from its last price.

The Progressive Corporation (NYSE:PGR) Upgrades and Downgrades

In terms of rating changes, Goldman on November 18, 2019, Downgrade The Progressive Corporation (PGR) at Neutral. Analysts at JP Morgan have assigned a Neutral rating for the stock in their research note on November 12, 2019 with an estimated price target of $79. Moreover, Evercore ISI analysts issued a rating of In-line for the stock on October 17, 2019, giving it a price target of $78 for the next 12 months. On June 13, 2019, the stock earned a Buy rating due to an analyst call from B. Riley FBR, while analysts from Barclays on January 09, 2019 suggested that the stock is Overweight.

Akebia Therapeutics Inc. (NASDAQ:AKBA) adds $0.75 on Tuesday

The AKBA stock has risen 9.76% year-to-date and is currently trading at $6.07, which is -41.91% below its 52-week high. The company shares gained 14.10% on the day and have risen nearly 103.01% off a low hit. At current levels, Akebia Therapeutics Inc. has a valuation of about $325.30M. As of 12/03/19, this stock has risen 24.64% during the week and closed at $5.32 in the previous session. However, recent Akebia Therapeutics Inc. stock performance shows that AKBA shares are 58.90% up over the last month, and 54.85% up for the last three months.

Earnings per share (EPS) estimates for the current quarter are -$0.24, with the trailing 12-month share earnings at -$2.43. The ratio is expected to be down by -31.80% for the current year 2019 and 23.60% for next year. But will the AKBA stock surprise in the current quarter results, where the -$0.46 actual EPS reported on 9/29/2019 surprised by -7.00% or was lower by -$0.03 from the estimated -$0.43.

Sales Growth to decline -10.00% for the year

How well will Akebia Therapeutics Inc. perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $89.3M and $103M in current quarter sales. The consensus estimated for the current quarter is $94.35M from sales. Forecasts for this fiscal year are between $354.8M and $368M and the consensus estimate for sales is at $359.55M. AKBA has its next quarter sales estimates at between $83M and $116.27M, with the quarter-over-quarter growth estimates at 17.30% and the annual growth forecast for the year at -10.00%.

Who owns shares in Akebia Therapeutics Inc. (AKBA)?

Let’s briefly focus on the share ownership of the Akebia Therapeutics Inc. (NASDAQ:AKBA) stock, where we find that 70.12% of shares are held by institutions. Baupost Group, Inc,.(The) LLC tops the list of institutional owners as it is holding 24.47 million shares or 20.57% of shares outstanding. Blackrock Inc. and Nantahala Capital Management, LLC held 10.58 million and 5.79 million representing 8.90% and 4.87% respectively at the close of the last trading session. As of Sep 29, 2019, Abrams Capital Management, L.P. accounted for 5.66 million shares at over 22.17 million. This represented 4.76% of shares outstanding. Vanguard Group, Inc. (The) held 5.47 million shares at over 21.43 million representing 4.60% of shares outstanding.

AKBA Insider Activity

On 12/12/2018, President & Chief Executive Officer by the name Butler John P sold 135697.0 shares worth $1.2 million at the price of $8.94 per share. Filings also show that Dahan Michel /inspiration/ sold a total of 23385.0 shares on 12/12/2018 valued at $209100.0. Since the last insider activity, the company’s share price has dropped -40.49%.