The stock of Fortive Corp (NYSE:FTV) hit a new 52-week high and has $60.07 target or 8.00% above today’s $55.62 share price. The 8 months bullish chart indicates low risk for the $19.28B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $60.07 price target is reached, the company will be worth $1.54 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 384,908 shares traded hands. Fortive Corp (NYSE:FTV) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
Analysts await Fortive Corp (NYSE:FTV) to report earnings on January, 26. FTV’s profit will be $228.78M for 21.07 P/E if the $0.66 EPS becomes a reality. After $0.67 actual earnings per share reported by Fortive Corp for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.
Fortive Corp (NYSE:FTV) Ratings Coverage
Out of 3 analysts covering Fortive (NYSE:FTV), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Fortive has been the topic of 3 analyst reports since July 6, 2016 according to StockzIntelligence Inc. The rating was initiated by Robert W. Baird with “Neutral” on Friday, July 8. The stock of Fortive Corp (NYSE:FTV) earned “Overweight” rating by Barclays Capital on Wednesday, July 6. Raymond James initiated the shares of FTV in a report on Friday, September 23 with “Outperform” rating.
According to Zacks Investment Research, “Fortive Corporation is an industrial growth company. Its segment comprised of Professional Instrumentation and Industrial Technologies. Professional Instrumentation segment consists of instrumentation and solutions, sensing technologies businesses. Industrial Technologies segment consists of transportation technologies, automation and specialty components and franchise distribution businesses. Fortive Corporation is based in WA, United States.”
More news for Fortive Corp (NYSE:FTV) were recently published by: Wsj.com, which released: “Danaher Split to Put Industrial Units Into New NYSE-Listed Entity Called …” on December 03, 2015. Prnewswire.com‘s article titled: “Fortive to Present At Baird’s 2016 Industrial Conference” and published on November 01, 2016 is yet another important article.
FTV Company Profile
Fortive Corporation (Fortive) is an industrial growth company, which operates businesses that design, develop, manufacture, service and market professional and engineered products, software and services for a range of end markets. The Firm has two divisions: Professional Instrumentation and Industrial Technologies. The Company’s Professional Instrumentation segment consists of instrumentation and solutions, and sensing technologies businesses. The Company’s Industrial Technologies segment consists of transportation technologies, automation and specialty components, and franchise distribution businesses.
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