Fortrea Holdings Inc. (NASDAQ:FTRE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.25.

FTRE has been the subject of several analyst reports. Truist Financial set a $19.00 price objective on shares of Fortrea in a research note on Wednesday, May 6th. Barclays lifted their price objective on shares of Fortrea from $11.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup lifted their price objective on shares of Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Mizuho lifted their price objective on shares of Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Robert W. Baird set a $20.00 price objective on shares of Fortrea in a research note on Wednesday, May 6th.

Fortrea Stock Up 11.8%

FTRE stock opened at $15.00 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. Fortrea has a 1 year low of $3.97 and a 1 year high of $18.67. The company has a fifty day simple moving average of $11.38 and a 200 day simple moving average of $12.94. The firm has a market cap of $1.42 billion, a PE ratio of -3.05, a PEG ratio of 0.41 and a beta of 1.92.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. The business had revenue of $636.50 million during the quarter, compared to analyst estimates of $628.51 million. Sell-side analysts anticipate that Fortrea will post 0.8 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total value of $45,903.27. Following the completion of the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 8,792 shares of company stock valued at $80,014. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Essential Partners LLC lifted its position in Fortrea by 140.2% during the 1st quarter. Essential Partners LLC now owns 9,675 shares of the company’s stock worth $91,000 after acquiring an additional 5,647 shares during the last quarter. Amundi lifted its position in Fortrea by 20.2% during the 1st quarter. Amundi now owns 12,490 shares of the company’s stock worth $118,000 after acquiring an additional 2,101 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Fortrea by 9.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock worth $103,000 after acquiring an additional 953 shares during the last quarter. California State Teachers Retirement System lifted its position in Fortrea by 51.3% during the 1st quarter. California State Teachers Retirement System now owns 132,369 shares of the company’s stock worth $1,247,000 after acquiring an additional 44,882 shares during the last quarter. Finally, Eagle Health Investments LP lifted its position in Fortrea by 7.3% during the 1st quarter. Eagle Health Investments LP now owns 1,307,560 shares of the company’s stock worth $12,317,000 after acquiring an additional 89,000 shares during 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.