In a report issued on March 20, Julian Mitchell from Barclays maintained a Buy rating on Fortive (FTV – Research Report), with a price target of $75.00. The company’s shares closed last Monday at $45.58, close to its 52-week low of $37.31.
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 4.5% and a 60.7% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Rockwell Automation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortive with a $77.50 average price target.
Based on Fortive’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $193 million. In comparison, last year the company had a net profit of $2.11 billion.
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Fortive Corp. is a diversified industrial growth company, which engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the Professional Instrumentation and Industrial Technologies segments.