SG Americas Securities LLC Acquires 64,364 Shares of Fortrea Holdings Inc. $FTRE

SG Americas Securities LLC lifted its holdings in Fortrea Holdings Inc. (NASDAQ:FTRE) by 42.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 217,592 shares of the company’s stock after acquiring an additional 64,364 shares during the quarter. SG Americas Securities LLC owned 0.23% of Fortrea worth $2,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Fortrea by 3.2% in 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 during the period. Goldman Sachs Group Inc. increased its holdings in shares of Fortrea by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock worth $142,702,000 after buying an additional 293,992 shares during the period. AQR Capital Management LLC lifted its stake in shares of Fortrea by 494.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company’s stock valued at $31,729,000 after acquiring an additional 5,419,842 shares during the last quarter. State Street Corp lifted its stake in shares of Fortrea by 1.0% in the 4th quarter. State Street Corp now owns 4,110,899 shares of the company’s stock valued at $70,913,000 after acquiring an additional 39,777 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fortrea by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company’s stock valued at $55,528,000 after acquiring an additional 565,891 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial set a $19.00 price target on Fortrea in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Mizuho lifted their target price on shares of Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Finally, Barclays increased their price target on shares of Fortrea from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.45.

Fortrea Stock Up 1.0%

Shares of Fortrea stock opened at $17.58 on Thursday. 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’s fifty day simple moving average is $14.66 and its two-hundred day simple moving average is $13.62. The company has a market cap of $1.66 billion, a P/E ratio of -3.58, a PEG ratio of 0.53 and a beta of 2.02. Fortrea Holdings Inc. has a 12-month low of $4.36 and a 12-month high of $18.67.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping 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 analysts’ expectations of $628.50 million. Research analysts anticipate that Fortrea Holdings Inc. will post 0.8 EPS for the current year.

Fortrea 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.