Fortive Corporation (NYSE:FTV) finished Friday with an addition of $0.97 to close at $77.02, an upside of 1.28 percent. An average of 1,881,800 shares of common stock have been traded in the last five days. There was a gain of $0.94 in the past week, and it reached a new high 25 times over the past 12 months. The last 20 days have seen an average of 2,134,210 shares traded, while the 50-day average volume stands at 1,907,084.
FTV stock has increased by 0.88% in the last month. The company shares reached their 1-month lowest point of $73.15 on 07/26/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $57.43 and a high of $79.90 in 52 weeks. It has reached a new high 33 times so far this year and achieved 19.88% or $12.77 in price. In spite of this, the price is down -3.60% from the 52-week high.
Insider Transactions
FTV stock investors should be aware that Fortive Corporation (FTV) stock had its last reported insider trading activity 29 days ago on Jul 28. In this transaction, the insider spent $1,667,164. SVP – Chief Financial Officer, McLaughlin Charles E, disposed of 16,911 shares at a price of $76.66 on Jul 28. The insider now owns more than $1,296,397 worth of shares. Prior to that, VP – Chief Accounting Officer Mulhall Christopher M. went on to Sale 4,700 shares at $76.85 each on Jul 28. An amount of $361,195 was transacted.
Valuation Metrics
Fortive Corporation (FTV) has a trailing price-to-earnings (P/E) ratio of 34.35. The stock’s beta is 1.15. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.62, the price-to-book (PB) ratio at 2.73, and the price-to-cash flow ratio at 23.27.
Financial Health
The quick ratio of Fortive Corporation for the three months ended June 29 was 0.70, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.20 and a total debt to equity ratio of 0.30 for the quarter ending June 29. Fortive Corporation’s EBITDA margin for the year ending June 29 is 25.25%, while its operating margin for the same period stands at 18.00%. Its gross profit as reported stood at $3.36 billion compared to revenue of $5.83 billion.
Earnings Surprise
For the three-month period that ended June 29, Fortive Corporation had $1.98 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $209.0 million in the quarter, while revenues of $227.2 million were grew 21.0%. The analyst consensus anticipated Fortive Corporation’s latest quarter earnings to come in at $0.81 per share, but it turned out to be $0.85, a 4.90% surprise. For the quarter, EBITDA amounted to $404.8 million. Shareholders own equity worth $352.02 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Fortive Corporation (FTV) price momentum. RSI 9-day as of the close on 25 August was 47.89%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.32%.
As of today, FTV’s price is $76.77 +1.24% or $0.94 from its 5-day moving average. FTV is currently trading +0.03% higher than its 20-day SMA and +13.60% higher than its 100-day SMA. However, the stock’s current price level is +10.82% above the SMA50 and +19.34% above the SMA200.
The stochastic %K and %D were 35.52% and 34.14%, respectively, and the average true range (ATR) was 1.34. With the 14-day stochastic at 36.98% and the average true range at 1.30, the RSI (14) stands at 51.15%. The stock has reached -0.29 on the 9-day MACD Oscillator while the 14-day reading was at -1.00.
Analyst Ratings
Seaport Research Partners launched coverage on Fortive Corporation (NYSE: FTV) in its analyst report released on August 07, 2023. The firm assigned the stock a Buy rating. The consensus rating for Fortive Corporation (FTV) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FTV, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 10 others rate it as a “buy”.
What is FTV’s price target for the next 12 months?
Analysts predict a range of price targets between $70.00 and $92.00, with a median target of $84.00. Taking a look at these predictions, the average price target given by analysts for Fortive Corporation (FTV) stock is $82.94.
