Notable Price Action: Could Fortive Corp Lose its Strength? The Stock Reaches 52-Week High

Notable Price Action: Could Fortive Corp Lose its Strength? The Stock Reaches 52 Week High

The stock of Fortive Corp (NYSE:FTV) hit a new 52-week high and has $57.17 target or 3.00% above today’s $55.50 share price. The 7 months bullish chart indicates low risk for the $19.37B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $57.17 price target is reached, the company will be worth $581.10M 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 372,009 shares traded hands. Fortive Corp (NYSE:FTV) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.

Analysts await Fortive Corp (NYSE:FTV) to report earnings on January, 26. FTV’s profit will be $230.35 million for 21.02 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 stock of Fortive Corp (NYSE:FTV) earned “Outperform” rating by Raymond James on Friday, September 23. The firm has “Overweight” rating by Barclays Capital given on Wednesday, July 6. The firm has “Neutral” rating by Robert W. Baird given on Friday, July 8.

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 recent Fortive Corp (NYSE:FTV) news were published by: Wsj.com which released: “Danaher Split to Put Industrial Units Into New NYSE-Listed Entity Called …” on December 03, 2015. Also Prnewswire.com published the news titled: “Fortive to Present At Baird’s 2016 Industrial Conference” on November 01, 2016. Bizjournals.com‘s news article titled: “Danaher Corp. moving forward with corporate split” with publication date: June 20, 2016 was also an interesting one.

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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