Cohen Capital Management Inc. Has $994,000 Stock Position in Fortrea Holdings Inc. $FTRE

Cohen Capital Management Inc. lowered its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 45.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 118,104 shares of the company’s stock after selling 96,450 shares during the period. Cohen Capital Management Inc.’s holdings in Fortrea were worth $994,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Fortrea in the first quarter valued at about $575,000. Brandes Investment Partners LP boosted its stake in shares of Fortrea by 72.8% in the 2nd quarter. Brandes Investment Partners LP now owns 224,272 shares of the company’s stock valued at $1,108,000 after purchasing an additional 94,448 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Fortrea by 181.9% in the 1st quarter. AQR Capital Management LLC now owns 1,095,282 shares of the company’s stock valued at $8,269,000 after purchasing an additional 706,779 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Fortrea by 1,625.8% during the 1st quarter. Millennium Management LLC now owns 3,499,220 shares of the company’s stock valued at $26,419,000 after purchasing an additional 3,296,461 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in Fortrea by 134.9% during the 1st quarter. Voya Investment Management LLC now owns 303,901 shares of the company’s stock worth $2,294,000 after purchasing an additional 174,549 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on FTRE. Evercore ISI set a $14.00 price objective on shares of Fortrea in a research note on Thursday, November 6th. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $21.00 in a research note on Thursday, December 11th. Zacks Research downgraded Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Mizuho upped their target price on Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Finally, Wedbush set a $21.00 target price on Fortrea in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.28.

Fortrea Price Performance

Fortrea stock opened at $16.62 on Tuesday. The stock’s 50 day moving average is $13.64 and its 200 day moving average is $9.95. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $20.26. The firm has a market cap of $1.54 billion, a P/E ratio of -1.48, a P/E/G ratio of 0.49 and a beta of 1.59. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.00 and a quick ratio of 1.00.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $701.30 million for the quarter, compared to the consensus estimate of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. As a group, research analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Fortrea 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.