Fortive Corp (FTV) Downgraded by Zacks Investment Research to “Sell”
Fortive Corp (NYSE:FTV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Fortive Corporation is an industrial growth company. Its segment comprised of Professional Instrumentation and Industrial Technologies. Professional Instrumentation segment consists of instrumentation and solutions, sensing technologies businesses. Industrial Technologies segment consists of transportation technologies, automation and specialty components and franchise distribution businesses. Fortive Corporation is based in WA, United States. “
A number of other equities analysts also recently commented on FTV. Credit Suisse Group AG reissued a “buy” rating on shares of Fortive Corp in a research report on Saturday, July 9th. Citigroup Inc. boosted their price objective on Fortive Corp from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Fortive Corp in a research report on Thursday, August 4th. Raymond James Financial Inc. started coverage on Fortive Corp in a research report on Friday, September 23rd. They set an “outperform” rating and a $58.00 price objective for the company. Finally, Goldman Sachs Group Inc. started coverage on Fortive Corp in a research report on Wednesday, September 28th. They set a “neutral” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Fortive Corp presently has an average rating of “Hold” and a consensus price target of $52.60.
Fortive Corp (NYSE:FTV) opened at 50.81 on Wednesday. The company has a market cap of $17.56 billion and a price-to-earnings ratio of 20.55. The stock has a 50 day moving average of $51.63 and a 200-day moving average of $50.90. Fortive Corp has a one year low of $46.29 and a one year high of $54.34.
Fortive Corp (NYSE:FTV) last released its earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm earned $1.56 million during the quarter, compared to analyst estimates of $1.56 million. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities analysts predict that Fortive Corp will post $2.43 EPS for the current fiscal year.
The company also recently disclosed a special dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, August 26th were paid a $0.07 dividend. The ex-dividend date was Wednesday, August 24th.
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