Fortive Corporation [NYSE: FTV] jumped around 2.97 points on Thursday, while shares priced at $62.47 at the close of the session, up 4.99%. The company report on July 28, 2022 that Fortive Reports Strong Second Quarter 2022 Results; Raises Full Year 2022 Outlook.
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
Delivered outstanding financial performance despite continued COVID, supply chain and foreign exchange headwinds.
Q2 revenue growth of 11%, up 9% core, ahead of expectations, reflects effective mitigation of expected Shanghai lockdown impact.
Fortive Corporation stock is now -18.12% down from its year-to-date (YTD) trading value. FTV Stock saw the intraday high of $62.82 and lowest of $60.00 per share. The company’s 52-week high price is 79.87, which means current price is +19.06% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 2.45M shares, FTV reached a trading volume of 3706037 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 $71.71 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 2.10. 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.
Argus have made an estimate for Fortive Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 17, 2022. The new note on the price target was released on March 14, 2022, representing the official price target for Fortive Corporation stock. Previously, the target price had yet another raise to $82, while Vertical Research analysts kept a Hold rating on FTV stock.
The Average True Range (ATR) for Fortive Corporation is set at 1.46, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 4.19. The Price to Book ratio for the last quarter was 2.35. Price to Free Cash Flow for FTV in the course of the last twelve months was 25.85 with Quick ratio for the last quarter at 0.70.
How has FTV stock performed recently?
Fortive Corporation [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.26. With this latest performance, FTV shares gained by 13.73% in over the last four-week period, additionally sinking by -10.28% over the last 6 months – not to mention a drop of -9.25% 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 71.94, with the RSI for the last a single of trading hit 80.76, and the three-weeks RSI is set at 65.21 for Fortive Corporation [FTV]. The present Moving Average for the last 50 days of trading for this stock 57.65, while it was recorded at 59.38 for the last single week of trading, and 65.42 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 +15.82 and a Gross Margin at +57.28. Fortive Corporation’s Net Margin is presently recorded at +11.69.
Return on Equity for this stock inclined to 6.65, with Return on Assets sitting at 3.78.
Fortive Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.
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 10.20%.
Insider trade positions for Fortive Corporation [FTV]
There are presently around $21,010 million, or 90.02% of FTV stock, in the hands of institutional investors. The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 37,557,116, which is approximately 2.707% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 29,702,419 shares of the stock with an approximate value of $1.86 billion in FTV stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.72 billion in FTV stock with ownership of nearly 39.12% of the company’s market capitalization.
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 309 institutional holders increased their position in Fortive Corporation [NYSE:FTV] by around 39,592,999 shares. Additionally, 391 investors decreased positions by around 46,702,797 shares, while 137 investors held positions by with 250,032,081 shares. The mentioned changes placed institutional holdings at 336,327,877 shares, according to the latest SEC report filing. FTV stock had 75 new institutional investments in for a total of 7,836,656 shares, while 94 institutional investors sold positions of 11,027,092 shares during the same period.