Fortive Corp (NYSE: FTV)’s stock price has gone rise by 0.42 in comparison to its previous close of 80.36, however, the company has experienced a -0.42% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-19 that Besides Wall Street’s top -and-bottom-line estimates for Fortive (FTV), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2024.
Is It Worth Investing in Fortive Corp (NYSE: FTV) Right Now?
Fortive Corp (NYSE: FTV) has a higher price-to-earnings ratio of 33.14x compared to its average ratio, The 36-month beta value for FTV is at 1.14. Analysts have varying views on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 10 as “hold,” and 0 as “sell.”
The public float for FTV is 349.95M, and currently, shorts hold a 0.91% of that float. The average trading volume for FTV on April 24, 2024 was 1.66M shares.
FTV’s Market Performance
FTV’s stock has seen a -0.42% decrease for the week, with a -5.79% drop in the past month and a 8.58% gain in the past quarter. The volatility ratio for the week is 1.42%, and the volatility levels for the past 30 days are at 1.48% for Fortive Corp The simple moving average for the last 20 days is -3.00% for FTV’s stock, with a simple moving average of 5.95% for the last 200 days.
Analysts’ Opinion of FTV
Many brokerage firms have already submitted their reports for FTV stocks, with JP Morgan repeating the rating for FTV by listing it as a “Neutral.” The predicted price for FTV in the upcoming period, according to JP Morgan is $90 based on the research report published on April 17, 2024 of the current year 2024.
Truist, on the other hand, stated in their research note that they expect to see FTV reach a price target of $99. The rating they have provided for FTV stocks is “Buy” according to the report published on March 14th, 2024.
FTV Trading at -4.23% from the 50-Day Moving Average
After a stumble in the market that brought FTV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.35% of loss for the given period.
Volatility was left at 1.48%, however, over the last 30 days, the volatility rate increased by 1.42%, as shares sank -4.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.42% lower at present.
During the last 5 trading sessions, FTV fell by -0.42%, which changed the moving average for the period of 200-days by +11.54% in comparison to the 20-day moving average, which settled at $83.01. In addition, Fortive Corp saw 9.60% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FTV starting from Walker Stacey A., who sale 842 shares at the price of $85.11 back on Feb 29 ’24. After this action, Walker Stacey A. now owns 35,716 shares of Fortive Corp, valued at $71,663 using the latest closing price.
McLaughlin Charles E, the SVP – Chief Financial Officer of Fortive Corp, sale 40,837 shares at $86.28 during a trade that took place back on Feb 28 ’24, which means that McLaughlin Charles E is holding 61,855 shares at $3,523,416 based on the most recent closing price.
Stock Fundamentals for FTV
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.54 for the gross margin
The net margin for Fortive Corp stands at 0.16. The total capital return value is set at 0.07. Equity return is now at value 8.66, with 5.28 for asset returns.
Based on Fortive Corp (FTV), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at 0.37. The debt to equity ratio resting at 0.36. The interest coverage ratio of the stock is 3779.0.
Currently, EBITDA for the company is 1.59 billion with net debt to EBITDA at 1.41. When we switch over and look at the enterprise to sales, we see a ratio of 5.58. The receivables turnover for the company is 5.08for trailing twelve months and the total asset turnover is 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.02.
Conclusion
In conclusion, Fortive Corp (FTV) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
