Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.75.

FTRE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Fortrea from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Zacks Research raised shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Barclays upped their price objective on shares of Fortrea from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 24th. Robert W. Baird set a $20.00 price objective on shares of Fortrea in a research report on Wednesday, May 6th. Finally, Citigroup lifted their target price on shares of Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th.

Fortrea Stock Performance

NASDAQ FTRE opened at $17.76 on Friday. The stock has a market cap of $1.68 billion, a PE ratio of -3.62, a P/E/G ratio of 0.54 and a beta of 2.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. Fortrea has a twelve month low of $4.45 and a twelve month high of $18.67. The stock has a fifty day simple moving average of $16.00 and a 200-day simple moving average of $13.70.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. The firm had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.50 million. Equities analysts anticipate that Fortrea will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On Fortrea

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the period. Toronto Dominion Bank purchased a new position in Fortrea during the 4th quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. grew its position in Fortrea by 27.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after acquiring an additional 980 shares in the last quarter. Allworth Financial LP grew its position in Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 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.