Barclays analyst Julian Mitchell maintained a Buy rating on Fortive Corp (FTV) on July 25 and set a price target of $89. The company’s shares closed on Friday at $78.45.
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 11.9% and a 73.3% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Gates Industrial Corp Plc, and Emerson Electric Company.
Fortive Corp has an analyst consensus of Moderate Buy, with a price target consensus of $81.50, a 3.9% upside from current levels. In a report issued on July 26, Raymond James also reiterated a Buy rating on the stock with a $84 price target.
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Based on Fortive Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $175 million. In comparison, last year the company earned revenue of $1.86 billion and had a net profit of $295 million.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock.
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Fortive Corp. is a diversified industrial growth company, which designs, develops, manufactures, and markets professional and engineered products, software, and services for a variety of end markets. It operates through the following two segments: Professional Instrumentation and Industrial Technologies.
