Fortive Corporation (NYSE:FTV) saw an upside of 1.37% to close Monday at $78.44 after adding $1.06 on the day. The 5-day average trading volume is 2,114,020 shares of the company’s common stock. It has gained $79.10 in the past week and touched a new high 3 times within the past 5 days. An average of 1,899,430 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,013,558.
FTV’s 1-month performance is 8.42% or $6.09 on its low of $72.67 reached on 07/10/23. The company’s shares have touched a 52-week low of $57.43 and high of $78.71, with the stock’s rally to the 52-week high happening on 08/07/23. YTD, FTV has achieved 22.09% or $14.19 and has reached a new high 31 times. However, the current price is down -0.34% from the 52-week high price.
Insider Transactions
FTV stock investors last saw insider trading activity on Jul 28.Murphy Patrick K (President & CEO of AHS) most recently sold 21,793 shares at $76.50 per share on Jul 28. This transaction cost the insider $1,667,164. SVP – Chief Financial Officer, McLaughlin Charles E, sold 16,911 shares at a price of $76.66 on Jul 28. Then, on Jul 28, VP – Chief Accounting Officer Mulhall Christopher M. sold 4,700 shares at a price of $76.85 per share. This transaction amounted to $361,195.
Valuation Metrics
FTV stock has a beta of 1.16. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.67 while the price-to-book (PB) in the most recent quarter is 2.78, with the price to cash flow ratio at 25.68.
Fortive Corporation’s quick ratio for the period ended June 29 was 0.70, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.20, while the total debt to equity was 0.30. In terms of profitability, the gross margin trailing 12 months is 58.50%. The trailing 12-month EBITDA margin is 25.25% while for the period ending June 29, Fortive Corporation’s operating margin was 18.00%. The firm’s gross profit as reported stood at $3.36 billion against revenue of $5.83 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 21.0% to $209.0 million, while revenue of $227.2 million was -8.71% off the previous quarter. Analysts expected FTV to announce $0.81 per share in earnings in its latest quarter, but it posted $0.85, representing a 4.90% surprise. EBITDA for the quarter stood at more than $404.8 million. FTV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.76 billion, with total debt at $3.14 billion. Shareholders hold equity totaling $352.02 million.
Let’s look briefly at Fortive Corporation (FTV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 71.28% to suggest the stock is trending Overbought, with historical volatility in this time period at 19.91%.
The stock’s 5-day moving average is $78.11, reflecting a +0.11% or $0.09 change from its current price. FTV is currently trading +5.97% above its 20-day SMA, +18.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +22.95% and SMA200 by+27.21%.
Stochastic %K and %D was 85.03% and 87.75% and the average true range (ATR) pointed at 1.29. The RSI (14) points at 70.11%, while the 14-day stochastic is at 88.91% with the period’s ATR at 1.26. The stock’s 9-day MACD Oscillator is pointing at 0.33 and 1.55 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Fortive Corporation (NYSE: FTV), Seaport Research Partners launched coverage with a Buy rating. Analysts offering their rating for FTV stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FTV as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 10 have offered a “buy” rating.
What is FTV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $70.00 and a high of $92.00, with their median price target at $84.00. Looking at these predictions, the average price target given by analysts is for Fortive Corporation (FTV) stock is $82.82.
