Fortrea Holdings Inc. (NASDAQ:FTRE – Get Free Report) fell 2.7% during trading on Friday . The company traded as low as $31.40 and last traded at $31.55. 354,348 shares changed hands during trading, a decline of 80% from the average session volume of 1,774,242 shares. The stock had previously closed at $32.44.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on FTRE. Barclays raised shares of Fortrea from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $29.00 to $38.00 in a report on Tuesday, November 14th. Bank of America assumed coverage on Fortrea in a research note on Monday, August 7th. They issued an “underperform” rating and a $27.00 price target for the company. Evercore ISI lowered their price target on Fortrea from $31.00 to $30.00 in a report on Wednesday, October 11th. Finally, Citigroup initiated coverage on Fortrea in a research note on Thursday, October 19th. They issued a “neutral” rating and a $32.00 price target for the company.
Fortrea Trading Down 1.7 %
Fortrea (NASDAQ:FTRE – Get Free Report) last posted its earnings results on Monday, November 13th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. The firm had revenue of $776.40 million for the quarter, compared to the consensus estimate of $748.90 million. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Fortrea Holdings Inc. will post 1.47 EPS for the current year.
Insider Transactions at Fortrea
In other Fortrea news, CEO Thomas Pike purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $25.23 per share, with a total value of $504,600.00. Following the acquisition, the chief executive officer now owns 20,000 shares in the company, valued at $504,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas Pike purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $25.23 per share, for a total transaction of $504,600.00. Following the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $504,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter M. Neupert acquired 11,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $25.30 per share, with a total value of $278,300.00. Following the completion of the purchase, the director now directly owns 21,996 shares of the company’s stock, valued at $556,498.80. The disclosure for this purchase can be found here.
Fortrea Company Profile
Fortrea Holdings Inc provides clinical development and patient access solutions to the life sciences industry. It offers phase I-IV clinical trial management, clinical pharmacology, differentiated technology enabled trial solutions, and post approval services. The company serves pharmaceutical, biotechnology, and medical device organizations.
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