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

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $16.15.

A number of research analysts recently issued reports on the company. Mizuho set a $15.00 price objective on Fortrea in a research report on Friday, January 9th. Citigroup raised Fortrea from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $21.00 in a research note on Thursday, December 11th. Barclays dropped their price objective on Fortrea from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Robert W. Baird cut their target price on Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Truist Financial set a $22.00 price target on Fortrea and gave the company a “buy” rating in a research report on Thursday, January 8th.

Fortrea Price Performance

Shares of FTRE opened at $9.63 on Thursday. The firm has a market cap of $900.41 million, a price-to-earnings ratio of -0.88, a PEG ratio of 0.34 and a beta of 1.80. The stock has a 50 day moving average of $10.88 and a 200-day moving average of $12.36. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. Fortrea has a 52 week low of $3.97 and a 52 week high of $18.67.

Fortrea (NASDAQ:FTRE) last issued its earnings results on Thursday, February 26th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). Fortrea had a positive return on equity of 6.23% and a negative net margin of 36.21%.The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. As a group, analysts forecast that Fortrea will post 0.51 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jill G. Mcconnell sold 5,061 shares of the company’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 transaction, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 9,673 shares of company stock worth $92,242 over the last quarter. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Fortrea during the 4th quarter worth about $51,000. Nisa Investment Advisors LLC lifted its position in shares of Fortrea by 214.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after purchasing an additional 2,278 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fortrea by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after purchasing an additional 980 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Fortrea by 88.2% in the 3rd quarter. GAMMA Investing LLC now owns 6,043 shares of the company’s stock valued at $51,000 after acquiring an additional 2,832 shares in the last quarter.

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.