Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Average Rating of “Hold” from Brokerages

Fortrea Holdings Inc. (NASDAQ:FTRE) has been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.25.

Several research firms have recently issued reports on FTRE. Truist Financial set a $19.00 price target on shares of Fortrea in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. Robert W. Baird set a $20.00 price objective on shares of Fortrea in a research note on Wednesday, May 6th. Barclays increased their target price on Fortrea from $11.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price objective on shares of Fortrea in a report on Thursday, May 7th.

Fortrea Stock Up 10.3%

FTRE stock opened at $17.24 on Friday. The stock has a fifty day moving average of $12.00 and a 200-day moving average of $13.11. Fortrea has a fifty-two week low of $4.36 and a fifty-two week high of $18.67. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -3.51, a PEG ratio of 0.48 and a beta of 2.12. 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 announced its quarterly earnings data 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 business had revenue of $636.50 million for the quarter, compared to analysts’ expectations of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. As a group, equities research analysts predict that Fortrea will post 0.8 earnings per share for the current year.

Insider Activity

In other news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the sale, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 8,792 shares of company stock worth $80,014. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Fortrea

A number of hedge funds and other institutional investors have recently modified their holdings of FTRE. Vanguard Group Inc. lifted 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 buying an additional 258,098 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Fortrea by 3.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock worth $142,702,000 after acquiring an additional 293,992 shares during the last quarter. AQR Capital Management LLC boosted 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 purchasing an additional 5,419,842 shares in the last quarter. State Street Corp raised its position in Fortrea by 1.0% in the 4th quarter. State Street Corp now owns 4,110,899 shares of the company’s stock worth $70,913,000 after purchasing an additional 39,777 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Fortrea by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company’s stock worth $55,528,000 after purchasing an additional 565,891 shares during 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.