Wolfe Research slashes price target on Fortive Corporation [FTV] – find out why.

Fortive Corporation [NYSE: FTV] traded at a low on 07/22/21, posting a -0.58 loss after which it closed the day’ session at $69.16. The company report on July 13, 2021 that Fortive to Acquire ServiceChannel for Approximately $1.2 Billion and Provides Preliminary Financial Information for the Second Quarter 2021.

Leading provider of SaaS-based multi-site solutions – expands Fortive’s leading offering of Facility and Asset Lifecycle workflow solutions, alongside Accruent and Gordian.

ServiceChannel FY 2021 revenue expected to be approximately $125 million (recurring revenue of approximately $117 million); expected long-term revenue growth rate of mid-teens.

The results of the trading session contributed to over 2678014 shares changing hands. Over the past one week, the price volatility of Fortive Corporation stands at 1.74% while the volatility over the past one month is 1.55%.

The market cap for FTV stock reached $23.58 billion, with 338.60 million shares outstanding and 329.23 million shares in the current float. Compared to the average trading volume of 2.75M shares, FTV reached a trading volume of 2678014 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Fortive Corporation [FTV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTV shares is $80.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTV stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Fortive Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 12, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $70 to $80. The new note on the price target was released on May 20, 2021, representing the official price target for Fortive Corporation stock. Previously, the target price had yet another raise to $75, while Morgan Stanley analysts kept a Equal-Weight rating on FTV stock. On December 08, 2020, analysts increased their price target for FTV shares from 71 to 78.

The Average True Range (ATR) for Fortive Corporation is set at 1.19, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 2.60, with the Price to Cash per share for the same quarter was set at 3.81.

How has FTV stock performed recently?

Fortive Corporation [FTV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.76. With this latest performance, FTV shares dropped by -0.62% in over the last four-week period, additionally sinking by -1.28% over the last 6 months – not to mention a rise of 15.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTV stock in for the last two-week period is set at 43.93, with the RSI for the last a single of trading hit 42.44, and the three-weeks RSI is set at 45.09 for Fortive Corporation [FTV]. The present Moving Average for the last 50 days of trading for this stock 70.60, while it was recorded at 69.36 for the last single week of trading, and 69.78 for the last 200 days.

Fortive Corporation [FTV]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fortive Corporation [FTV] shares currently have an operating margin of +14.03 and a Gross Margin at +56.46. Fortive Corporation’s Net Margin is presently recorded at +31.34.

Return on Total Capital for FTV is now 4.76, given the latest momentum, and Return on Invested Capital for the company is 11.94. Return on Equity for this stock inclined to 17.76, with Return on Assets sitting at 8.67. When it comes to the capital structure of this company, Fortive Corporation [FTV] has a Total Debt to Total Equity ratio set at 49.43. Additionally, FTV Total Debt to Total Capital is recorded at 33.08, with Total Debt to Total Assets ending up at 27.61. Long-Term Debt to Equity for the company is recorded at 33.29, with the Long-Term Debt to Total Capital now at 22.28.

Reflecting on the efficiency of the workforce at the company, Fortive Corporation [FTV] managed to generate an average of $85,424 per employee. Receivables Turnover for the company is 4.22 with a Total Asset Turnover recorded at a value of 0.28.Fortive Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

Earnings analysis for Fortive Corporation [FTV]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortive Corporation go to 9.77%.

Insider trade positions for Fortive Corporation [FTV]

There are presently around $21,619 million, or 93.80% of FTV stock, in the hands of institutional investors. The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 33,965,479, which is approximately 0.934% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 26,815,381 shares of the stock with an approximate value of $1.85 billion in FTV stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.44 billion in FTV stock with ownership of nearly -31.836% of the company’s market capitalization.

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Positions in Fortive Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 326 institutional holders increased their position in Fortive Corporation [NYSE:FTV] by around 27,546,604 shares. Additionally, 353 investors decreased positions by around 29,208,388 shares, while 139 investors held positions by with 255,835,602 shares. The mentioned changes placed institutional holdings at 312,590,594 shares, according to the latest SEC report filing. FTV stock had 64 new institutional investments in for a total of 1,059,029 shares, while 79 institutional investors sold positions of 1,012,826 shares during the same period.

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