Fortrea Holdings Inc. (NASDAQ:FTRE) Receives $16.05 Average PT from Analysts

Fortrea Holdings Inc. (NASDAQ:FTRE) has been assigned an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.3182.

Several research analysts recently weighed in on FTRE shares. Robert W. Baird set a $20.00 price target on shares of Fortrea in a report on Wednesday. Truist Financial set a $19.00 price objective on shares of Fortrea in a research report on Wednesday. Citigroup lifted their price objective on shares of Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen reaffirmed a “buy” rating on shares of Fortrea in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Fortrea from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday.

Insider Buying and Selling

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total value of $45,903.27. Following the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 9,673 shares of company stock valued at $92,242 over the last 90 days. Insiders own 0.38% of the company’s stock.

Institutional Trading of Fortrea

Several hedge funds have recently added to or reduced their stakes in FTRE. Royal Bank of Canada raised its position in Fortrea by 48.9% in the first quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock worth $920,000 after acquiring an additional 39,944 shares during the period. Caxton Associates LLP bought a new stake in shares of Fortrea in the first quarter valued at approximately $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Fortrea by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock valued at $2,135,000 after purchasing an additional 27,746 shares during the period. Focus Partners Wealth bought a new stake in shares of Fortrea in the first quarter valued at approximately $80,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Fortrea in the first quarter valued at approximately $65,000.

Fortrea Price Performance

Fortrea stock opened at $15.43 on Monday. Fortrea has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The stock has a market cap of $1.46 billion, a PE ratio of -3.14, a price-to-earnings-growth ratio of 0.50 and a beta of 1.92. The firm’s 50-day simple moving average is $10.15 and its 200 day simple moving average is $12.58. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.95.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share 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 business had revenue of $636.50 million for the quarter, compared to analysts’ expectations of $628.51 million. Research analysts predict that Fortrea will post 0.76 EPS for the current fiscal 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.