Strs Ohio Sells 37,500 Shares of Fortrea Holdings Inc. $FTRE

Strs Ohio reduced its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 35.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,800 shares of the company’s stock after selling 37,500 shares during the period. Strs Ohio owned about 0.07% of Fortrea worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in shares of Fortrea by 214.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after purchasing an additional 2,278 shares during the period. Allworth Financial LP raised its position in Fortrea by 6,802.4% in the 2nd quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after purchasing an additional 5,578 shares during the period. GAMMA Investing LLC increased its stake in Fortrea by 88.2% in the 3rd quarter. GAMMA Investing LLC now owns 6,043 shares of the company’s stock worth $51,000 after purchasing an additional 2,832 shares during the period. Osaic Holdings Inc. increased its position in shares of Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after acquiring an additional 2,918 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Fortrea during the first quarter valued at about $65,000.

Fortrea Stock Performance

Shares of FTRE stock opened at $16.81 on Friday. The company’s 50-day moving average is $16.07 and its 200 day moving average is $11.45. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $18.67. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -1.50, a price-to-earnings-growth ratio of 0.50 and a beta of 1.59.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). The business had revenue of $701.30 million during the quarter, compared to analysts’ expectations of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. Sell-side analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on FTRE. Evercore ISI set a $25.00 target price on Fortrea and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Robert W. Baird set a $19.00 price objective on Fortrea in a research report on Wednesday, January 14th. Barclays set a $15.00 target price on Fortrea and gave the company an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.75.

Fortrea Company Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.