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

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.25.

Several analysts have issued reports on FTRE shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 price target on shares of Fortrea in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. TD Cowen restated a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Barclays raised their price target on shares of Fortrea from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Citigroup upped their target price on Fortrea from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FTRE. Larson Financial Group LLC lifted its position in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the period. Osaic Holdings Inc. lifted its position in Fortrea by 74.3% in the second 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 lifted its position in Fortrea by 137.0% in the second 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 bought a new position in Fortrea in the fourth quarter worth $51,000. Finally, Allworth Financial LP lifted its position in Fortrea by 19.6% in the third quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after purchasing an additional 1,109 shares during the period.

Fortrea Stock Up 1.6%

FTRE opened at $15.56 on Tuesday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.17, a P/E/G ratio of 0.47 and a beta of 2.12. Fortrea has a 1-year low of $4.36 and a 1-year high of $18.67. The business has a 50 day moving average of $13.62 and a 200-day moving average of $13.49. 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 (NASDAQ:FTRE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. The company had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.51 million. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. As a group, sell-side analysts anticipate that Fortrea will post 0.8 earnings per share for the current year.

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.