Fortrea (NASDAQ:FTRE) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Fortrea (NASDAQ:FTRE) from an in-line rating to an outperform rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $25.00 price target on the stock, up from their previous price target of $14.00.

Several other equities research analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price objective on Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 9th. Wall Street Zen lowered Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Zacks Research cut Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Mizuho increased their price objective on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Finally, Barclays set a $15.00 target price on shares of Fortrea and gave the stock an “equal weight” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.17.

Fortrea Stock Down 0.3%

Shares of FTRE opened at $17.44 on Tuesday. The firm has a market cap of $1.61 billion, a P/E ratio of -1.55, a PEG ratio of 0.51 and a beta of 1.59. Fortrea has a 12 month low of $3.97 and a 12 month high of $19.00. The stock’s 50 day moving average is $14.06 and its two-hundred day moving average is $10.14. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data 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). Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. The company had revenue of $701.30 million for the quarter, compared to analysts’ expectations of $643.43 million. Analysts predict that Fortrea will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fortrea by 6.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 65,318 shares of the company’s stock valued at $1,146,000 after acquiring an additional 3,781 shares during the last quarter. GAMMA Investing LLC raised its stake in Fortrea by 82.0% during the fourth quarter. GAMMA Investing LLC now owns 10,997 shares of the company’s stock worth $190,000 after purchasing an additional 4,954 shares during the period. JPMorgan Chase & Co. boosted its holdings in Fortrea by 65.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 692,702 shares of the company’s stock valued at $5,833,000 after purchasing an additional 274,209 shares during the last quarter. Allworth Financial LP grew its stake in shares of 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 buying an additional 1,109 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Fortrea in the 3rd quarter valued at approximately $187,000.

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.