Brandes Investment Partners LP Has $4.82 Million Stake in Fortrea Holdings Inc. $FTRE

Brandes Investment Partners LP raised its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 14.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 279,273 shares of the company’s stock after buying an additional 35,453 shares during the quarter. Brandes Investment Partners LP’s holdings in Fortrea were worth $4,817,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Fortrea by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 8,331,016 shares of the company’s stock worth $143,710,000 after purchasing an additional 258,098 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Fortrea by 3.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock worth $142,702,000 after purchasing an additional 293,992 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Fortrea by 494.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company’s stock worth $31,729,000 after purchasing an additional 5,419,842 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fortrea by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 2,278,934 shares of the company’s stock worth $39,318,000 after purchasing an additional 196,759 shares in the last quarter. Finally, Park West Asset Management LLC bought a new position in shares of Fortrea during the 3rd quarter worth about $18,579,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FTRE shares. Mizuho raised their price target on shares of Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Truist Financial set a $19.00 price target on shares of Fortrea in a research report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Citigroup raised their price target on shares of Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird set a $20.00 price target on shares of Fortrea in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fortrea presently has a consensus rating of “Hold” and an average target price of $17.25.

Fortrea Stock Down 3.2%

Fortrea stock opened at $16.34 on Thursday. Fortrea Holdings Inc. has a 1-year low of $4.36 and a 1-year high of $18.67. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.33, a P/E/G ratio of 0.51 and a beta of 2.12. 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 firm has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $13.29.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 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 firm had revenue of $636.50 million during the quarter, compared to the consensus estimate of $628.51 million. On average, analysts predict that Fortrea Holdings Inc. will post 0.8 earnings per share for the current year.

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.