Notable Runner: Could Fortive Corp Change Direction After Reaching All-Time High?

Notable Runner: Could Fortive Corp Change Direction After Reaching All Time High?

The stock of Fortive Corp (NYSE:FTV) reached all time high today, Nov, 23 and still has $58.26 target or 5.00% above today’s $55.49 share price. This indicates more upside for the $19.36B company. This technical setup was reported by Barchart.com. If the $58.26 PT is reached, the company will be worth $968.00M 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 56,712 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 $230.27 million for 21.02 P/E if the $0.66 EPS becomes a reality. After $0.67 actual EPS 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. Barclays Capital initiated Fortive Corp (NYSE:FTV) on Wednesday, July 6 with “Overweight” rating. The firm has “Outperform” rating given on Friday, September 23 by Raymond James. The stock has “Neutral” rating given by Robert W. Baird 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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