Analysts Set Fortrea Holdings Inc. (NASDAQ:FTRE) Target Price at $17.25

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.45.

A number of analysts recently commented on FTRE shares. Truist Financial set a $19.00 price objective on Fortrea in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Fortrea from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price objective on shares of Fortrea in a research report on Thursday, May 7th. Finally, Mizuho boosted their price objective on shares of Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th.

Fortrea Trading Down 0.3%

NASDAQ:FTRE opened at $17.65 on Tuesday. The company’s 50 day moving average price is $14.23 and its 200-day moving average price is $13.58. Fortrea has a 52 week low of $4.36 and a 52 week high of $18.67. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.98. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -3.59, a PEG ratio of 0.54 and a beta of 2.12.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $636.50 million for the quarter, compared to the consensus estimate of $628.51 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. On average, equities research analysts forecast that Fortrea will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortrea

A number of hedge funds have recently modified their holdings of the business. Essential Partners LLC grew its position in shares of Fortrea by 140.2% during the 1st quarter. Essential Partners LLC now owns 9,675 shares of the company’s stock valued at $91,000 after acquiring an additional 5,647 shares during the period. Amundi raised its position in shares of Fortrea by 20.2% during the 1st quarter. Amundi now owns 12,490 shares of the company’s stock valued at $118,000 after purchasing an additional 2,101 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Fortrea by 9.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock valued at $103,000 after purchasing an additional 953 shares during the period. California State Teachers Retirement System raised its position in shares of Fortrea by 51.3% during the 1st quarter. California State Teachers Retirement System now owns 132,369 shares of the company’s stock valued at $1,247,000 after purchasing an additional 44,882 shares during the period. Finally, Eagle Health Investments LP raised its position in shares of Fortrea by 7.3% during the 1st quarter. Eagle Health Investments LP now owns 1,307,560 shares of the company’s stock valued at $12,317,000 after purchasing an additional 89,000 shares during the period.

About Fortrea

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.