Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Average Recommendation of “Hold” from Analysts

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.75.

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Fortrea from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. William Blair upgraded shares of Fortrea to a “hold” rating in a research report on Wednesday, July 29th. Citigroup raised their price objective on Fortrea from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen lifted their target price on Fortrea from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial boosted their target price on Fortrea from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

Insider Activity at Fortrea

In other news, CEO Anshul Thakral sold 99,869 shares of Fortrea stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the transaction, the chief executive officer owned 316,797 shares in the company, valued at $6,069,830.52. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortrea

Several hedge funds have recently bought and sold shares of FTRE. Sanctuary Advisors LLC increased its position in shares of Fortrea by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after acquiring an additional 627 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Fortrea by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after purchasing an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Fortrea by 9.5% during the first 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Fortrea by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after purchasing an additional 980 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the last quarter.

Fortrea Price Performance

Fortrea stock opened at $17.60 on Wednesday. The firm has a market capitalization of $1.67 billion, a P/E ratio of -19.34, a PEG ratio of 0.42 and a beta of 1.99. Fortrea has a 1 year low of $7.40 and a 1 year high of $21.39. The business has a 50-day moving average of $17.77 and a 200-day moving average of $13.94. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.98.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The firm had revenue of $678.20 million during the quarter, compared to analysts’ expectations of $647.57 million. On average, equities analysts anticipate that Fortrea will post 0.85 EPS for the current year.

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.