Fortrea Holdings Inc. (NASDAQ:FTRE) Given Average Rating of “Hold” by Brokerages

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.15.

Several equities research analysts have recently weighed in on the stock. Wedbush set a $21.00 target price on shares of Fortrea in a research note on Thursday, December 11th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the stock a “buy” rating in a research note on Thursday, January 8th. Evercore set a $25.00 price target on shares of Fortrea and gave the company an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Finally, Citigroup raised shares of Fortrea from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th.

Fortrea Price Performance

Shares of Fortrea stock opened at $8.93 on Friday. The stock has a market cap of $834.96 million, a price-to-earnings ratio of -0.82, a price-to-earnings-growth ratio of 0.32 and a beta of 1.80. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.45. Fortrea has a one year low of $3.97 and a one year high of $18.67.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.22 million. Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. Equities analysts expect that Fortrea will post 0.51 EPS for the current year.

Insider Activity

In related news, CFO Jill G. Mcconnell sold 5,061 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the transaction, the chief financial officer owned 69,796 shares in the company, valued at $633,049.72. The trade was a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 7,869 shares of company stock worth $75,609. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of Fortrea

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Fortrea by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company’s stock valued at $143,710,000 after purchasing an additional 258,098 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Fortrea by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock worth $142,702,000 after purchasing an additional 293,992 shares during the last quarter. AQR Capital Management LLC increased its stake in Fortrea by 494.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company’s stock worth $31,729,000 after buying an additional 5,419,842 shares during the period. State Street Corp increased its stake in Fortrea by 1.0% in the 4th quarter. State Street Corp now owns 4,110,899 shares of the company’s stock worth $70,913,000 after buying an additional 39,777 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Fortrea by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company’s stock valued at $55,528,000 after buying an additional 565,891 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.