Chart of the Day: Fortive Maybe an AI Sleeper
The Chart of the Day belongs to the intelligent operatings solutions company Fortive (FTV) I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 6/2 the stock gained 11.15%.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries. Additionally, it markets its products and services under the ACCRUENT, FLUKE, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, PRUFTECHNIK, and SERVICECHANNEL brands. Its Precision Technologies segment provides electrical test & measurement, sensing and material technologies under the ANDERSON-NEGELE, GEMS, SETRA, HENGSTLER-DYNAPAR, QUALITROL, PACIFIC SCIENTIFIC, KEITHLEY, and TEKTRONIX brands for industrial, power and energy, automotive, medical equipment, food and beverage, aerospace and defense, semiconductor, and other general industries. Advanced Healthcare Solutions segment offers critical workflow solutions including instrument sterilization, instrument tracking, design and manufacture of cell therapy equipment, biomedical test tools, radiation detection and safety monitoring, and end-to-end clinical productivity software and solutions under the ASP, CENSIS, CENSITRAC, EVOTECH, FLUKE BIOMEDICAL, INVETECH, LANDAUER, PROVATION, RAYSAFE, and STERRAD brands. The company was incorporated in 2015 and is headquartered in Everett, Washington.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 36.00 Weighted Alpha
- 37.80% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 11 new highs and up 11.20% in the last month
- Relative Strength Index 74.82%
- Technical support level at $74.30
- Recently traded at $74.77 with 50 day moving average of $67.20
Fundamental Factors:
- Market Cap $36.30 billion
- P/E 22.98
- Dividend yield .38%
- Revenue projected to grow 3.90% this year and another 4.80% next year
- Earnings estimated to increase 6.70% this year, an additional 9.80% next year and continue to compound at an annual rate of 7.30% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 9 strong buy, 4 buy, and 6 hold opinions on the stock
- Analysts price targets are between $63 and $91 - despite the number of strong buy and buy opinions the price target consensus is $76 about where we are today
- The individual investors on Motley Fool voted 8 to 0 for the stock to beat the market with the more experienced investors voting 2 to 0 for the same result
- Value Line rates the stock an average rating of 3 with an 18 month price target of $87 which is 15% above today's close
- CFRAs MarketScope rates it a 4 star buy
- 17,220 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.
