Here's Why Fortive (FTV) Deserves A Place In Your Portfolio
Zacks Investment Research | Sep 19, 2017 10:52PM ET
Fortive Corporation (NYSE:FTV) is currently a well-performing technology stock and a rise in share price and strong fundamentals signal its bullish run. Therefore, if you haven’t taken advantage of the share price appreciation yet, it’s time you add the stock to your portfolio.
The company has performed extremely well so far this year and has the potential to carry on the momentum in the near term.
Here are a few reasons why the stock is worth considering.
An Outperformer
A look at the company’s price trend reveals that the stock has had an impressive run on the bourse year to date. Fortive gained 30.7%, significantly outperforming the S&P 500’s rally of 11.7%.
Solid Rank & VGM Score
Fortive currently carries a Zacks Rank #2 (Buy) and has a VGM Score of B. Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or #2 offer the best investment opportunities for investors. Thus, the company appears to be a convincing investment proposition at the moment.
Northward Estimate Revisions
For the current year, 11 estimates moved north over the past 60 days versus no southward revisions, reflecting analysts’ confidence in the company. Over the same period, the Zacks Consensus Estimate for the current year increased 1%.
Positive Earnings Surprise History
Fortive has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 5.8%.
Strong Growth Prospects
The company’s Zacks Consensus Estimate for 2017 earnings of $2.79 reflects year-over-year growth of 11.1%. Moreover, earnings are expected to register 8.8% growth in 2018. The stock has long-term expected earnings per share growth rate of 9.6%.
Fortive Corporation Price and Consensus
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