Citigroup Raises Fortive (FTV) Price Target to $79.00
Fortive (NYSE:FTV) had its price target upped by investment analysts at Citigroup from $76.00 to $79.00 in a report released on Friday. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 14.26% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Wednesday, January 3rd. Royal Bank of Canada restated a “hold” rating and issued a $79.00 price objective on shares of Fortive in a research report on Thursday, January 4th. SunTrust Banks restated a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research report on Friday, October 27th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets started coverage on shares of Fortive in a research report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $73.80.
Shares of Fortive (FTV) opened at $69.14 on Friday. Fortive has a 52 week low of $56.16 and a 52 week high of $76.68. The stock has a market capitalization of $24,916.51, a PE ratio of 26.09, a P/E/G ratio of 2.20 and a beta of 0.51. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.
Large investors have recently added to or reduced their stakes in the company. Calton & Associates Inc. purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fortive during the third quarter valued at approximately $135,000. Willingdon Wealth Management purchased a new stake in shares of Fortive during the third quarter valued at approximately $143,000. Westwood Holdings Group Inc. purchased a new stake in shares of Fortive during the second quarter valued at approximately $139,000. Finally, BB&T Investment Services Inc. purchased a new stake in shares of Fortive during the second quarter valued at approximately $157,000. 78.96% of the stock is owned by hedge funds and other institutional investors.
WARNING: This piece of content was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2018/02/09/citigroup-raises-fortive-ftv-price-target-to-79-00.html.
Fortive Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.