Last Updated: 18 Sep 2024
Executive Summary
Fortive Corp (FTV) is a diversified industrial technology conglomerate with a market capitalization of $26.18 billion. The company has a strong financial position with an EBITDA of $1.67 billion and a profit margin of 14.4%. Its trailing price-to-earnings (PE) ratio of 30.01 is slightly above the industry average, but its forward PE of 18.21 indicates potential for growth. The latest stock price of $74.73 is within its 52-week range of $62.78 to $86.91.
Company Overview
Fortive Corp is headquartered in Everett, Washington. It operates in the life sciences, industrial technologies, and specialized technologies sectors. The company's products include precision instruments, sensors, and software solutions. Fortive has a global presence with operations in over 50 countries.
Fundamental Analysis
Fortive Corp has been delivering consistent financial performance. In the latest quarter, the company reported a 1.7% year-over-year increase in revenue to $6.15 billion. However, its diluted EPS declined by 6.8% to $2.49. The company's gross profit margin remained stable at 33.6%. Fortive has a strong balance sheet with $3.3 billion in cash and cash equivalents and total debt of $7.9 billion.
Technical Analysis
FTV's stock price has been trading within a range between its 50-day and 200-day moving averages. The stock is currently testing the resistance level at $74.73. A breakout above this level could lead to further upside potential. The relative strength index (RSI) is at 53, indicating that the stock is neither overbought nor oversold.
Short Term Outlook
In the short term, FTV's stock price is likely to remain range-bound between $72.28 and $76.2. The stock may experience some volatility due to upcoming earnings reports and economic data releases. However, the company's strong fundamentals and positive analyst sentiment suggest that the stock could continue to perform well.
Long Term Outlook
Over the long term, Fortive Corp is expected to benefit from the growing demand for its products in the life sciences and industrial technologies sectors. The company's focus on innovation and operational efficiency should drive future growth. Analysts have a positive outlook on the stock, with a consensus target price of $84.8.
Analyst Recommendations
Analysts have a strong buy rating on FTV. Four analysts have a strong buy rating, nine have a buy rating, and seven have a hold rating. No analysts have a sell or strong sell rating. The consensus analyst target price of $84.8 represents a potential upside of 13.4% from the current price.
