Fortive Corp (FTV) Hit 52-Week High

September 17, 2017 - By Marguerite Chambers

The stock of Fortive Corp (NYSE:FTV) hit a new 52-week high and has $75.60 target or 9.00 % above today’s $69.36 share price. The 8 months bullish chart indicates low risk for the $24.07B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $75.60 price target is reached, the company will be worth $2.17 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.

The stock increased 0.25% or $0.17 on September 15, reaching $69.36. About 2.71M shares traded or 137.72% up from the average. Fortive Corp (NYSE:FTV) has 0.00% since September 17, 2016 and is . It has underperformed by 16.70% the S&P500.

Analysts await Fortive Corp (NYSE:FTV) to report earnings on October, 26. They expect $0.73 EPS, up 8.96 % or $0.06 from last year’s $0.67 per share. FTV’s profit will be $253.33M for 23.75 P/E if the $0.73 EPS becomes a reality. After $0.71 actual EPS reported by Fortive Corp for the previous quarter, Wall Street now forecasts 2.82 % EPS growth.

Fortive Corp (NYSE:FTV) Ratings Coverage

Among 8 analysts covering Fortive (NYSE:FTV), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Fortive has $67 highest and $52 lowest target. $59.25’s average target is -14.58% below currents $69.36 stock price. Fortive had 8 analyst reports since July 6, 2016 according to SRatingsIntel. SunTrust upgraded Fortive Corp (NYSE:FTV) rating on Thursday, March 30. SunTrust has “Buy” rating and $67 target. The firm has “Overweight” rating given on Friday, March 24 by JP Morgan. Robert W. Baird initiated the shares of FTV in report on Friday, July 8 with “Neutral” rating. Credit Suisse upgraded the stock to “Outperform” rating in Friday, January 13 report. On Friday, September 23 the stock rating was initiated by Raymond James with “Outperform”. The firm has “Buy” rating given on Wednesday, March 29 by Suntrust Robinson. The rating was initiated by Barclays Capital with “Overweight” on Wednesday, July 6. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, March 23.

More important recent Fortive Corp (NYSE:FTV) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Equifax, Fortive and Minerals Technologies” on August 21, 2017, also Nasdaq.com published article titled: “Hikari Tsushin, Inc. Buys Fortive Corp, Diamond Offshore Drilling Inc …”, Nasdaq.com published: “Fortive Corporation (FTV) Ex-Dividend Date Scheduled for August 23, 2017” on August 22, 2017. More interesting news about Fortive Corp (NYSE:FTV) was released by: Reuters.com and their article: “Fortive to buy radiation safety company Landauer for $770 million” with publication date: September 06, 2017.

Fortive Corporation is a diversified industrial growth company. The company has market cap of $24.07 billion. The Firm designs, develops, makes and markets professional and engineered products, software and services for a range of end markets. It has a 27.28 P/E ratio. The Firm operates through two divisions: Professional Instrumentation and Industrial Technologies.

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