Fortrea (NASDAQ:FTRE) Price Target Raised to $13.00 at Mizuho

Fortrea (NASDAQ:FTRE) had its price target boosted by Mizuho from $11.00 to $13.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently commented on FTRE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. TD Cowen reiterated a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Citigroup boosted their target price on Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $20.00 price target on shares of Fortrea in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 price target on shares of Fortrea in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fortrea has a consensus rating of “Hold” and an average price target of $16.14.

Fortrea Price Performance

NASDAQ:FTRE opened at $14.61 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $1.38 billion, a P/E ratio of -2.98, a P/E/G ratio of 0.48 and a beta of 1.92. Fortrea has a 12 month low of $3.97 and a 12 month high of $18.67. The business’s 50-day moving average is $10.41 and its 200 day moving average is $12.68.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $636.50 million for the quarter, compared to the consensus estimate of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. On average, equities research analysts forecast that Fortrea will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Fortrea

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were 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. This trade represents a 6.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 8,792 shares of company stock worth $80,014 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Fortrea

A number of institutional investors have recently modified their holdings of FTRE. Nisa Investment Advisors LLC increased its position in shares of Fortrea by 214.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after acquiring an additional 2,278 shares during the period. Larson Financial Group LLC increased its position in shares of Fortrea by 136.7% during the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the period. Osaic Holdings Inc. increased its position in shares of Fortrea by 74.3% during the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after acquiring an additional 2,918 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Fortrea by 137.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after acquiring an additional 5,036 shares during the period. Finally, Toronto Dominion Bank purchased a new position in Fortrea during the fourth quarter valued at approximately $51,000.

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.