Price Action Don’t Lie: What’s Next for Fortive Corp After Touching All-Time High?

Price Action Don't Lie: What's Next for Fortive Corp After Touching All Time High?

The stock of Fortive Corp (NYSE:FTV) reached all time high today, Nov, 28 and still has $58.41 target or 5.00% above today’s $55.63 share price. This indicates more upside for the $19.28B company. This technical setup was reported by Barchart.com. If the $58.41 PT is reached, the company will be worth $964.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 48,056 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 $228.74M 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. Robert W. Baird initiated Fortive Corp (NYSE:FTV) rating on Friday, July 8. Robert W. Baird has “Neutral” rating and $52 price target. As per Wednesday, July 6, the company rating was initiated by Barclays Capital. The rating was initiated by Raymond James on Friday, September 23 with “Outperform”.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment