Fortrea (NASDAQ:FTRE) Stock Rating Lowered by Wall Street Zen

Fortrea (NASDAQ:FTRE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Fortrea from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 price target on shares of Fortrea in a research note on Thursday, May 7th. Citigroup lifted their price target on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Fortrea Trading Down 0.2%

Shares of FTRE opened at $17.73 on Tuesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.95 and a quick ratio of 0.95. Fortrea has a 1-year low of $4.57 and a 1-year high of $18.67. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -3.61, a price-to-earnings-growth ratio of 0.54 and a beta of 2.03. The firm has a 50 day simple moving average of $16.05 and a 200-day simple moving average of $13.68.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The firm had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.50 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. Equities analysts forecast that Fortrea will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortrea

A number of institutional investors have recently added to or reduced their stakes in FTRE. Larson Financial Group LLC increased its stake in 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 last quarter. Osaic Holdings Inc. grew its holdings in shares of Fortrea by 74.3% during the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after purchasing an additional 2,918 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Fortrea by 137.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after purchasing an additional 5,036 shares during the period. Toronto Dominion Bank acquired a new stake in Fortrea during the 4th quarter worth approximately $51,000. Finally, Allworth Financial LP increased its position in Fortrea by 19.6% during the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after purchasing an additional 1,109 shares in the last quarter.

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.