Louisiana State Employees Retirement System Acquires New Holdings in Fortrea Holdings Inc. $FTRE

Louisiana State Employees Retirement System bought a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,000 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in shares of 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 buying an additional 1,072 shares during the period. Osaic Holdings Inc. grew its holdings in Fortrea by 74.3% in the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after buying an additional 2,918 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Fortrea by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock valued at $43,000 after acquiring an additional 5,036 shares during the period. Toronto Dominion Bank acquired a new stake in Fortrea in the 4th quarter valued at approximately $51,000. Finally, Allworth Financial LP raised its stake in Fortrea by 19.6% during the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after acquiring an additional 1,109 shares in the last quarter.

Fortrea Price Performance

Shares of NASDAQ:FTRE opened at $17.02 on Thursday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -3.47, a PEG ratio of 0.53 and a beta of 2.03. 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 Holdings Inc. has a 12 month low of $4.45 and a 12 month high of $18.67. The stock’s 50 day moving average price is $15.38 and its 200 day moving average price is $13.67.

Fortrea (NASDAQ:FTRE) last issued its quarterly 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. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%.The firm had revenue of $636.50 million during the quarter, compared to analyst estimates of $628.50 million. Equities research analysts anticipate that Fortrea Holdings Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FTRE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Tuesday, April 21st. Robert W. Baird set a $20.00 price target on Fortrea in a report on Wednesday, May 6th. Barclays lifted 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. Zacks Research raised shares of Fortrea from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Mizuho increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.45.

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.