Brokerages Set Fortrea Holdings Inc. (NASDAQ:FTRE) Target Price at $37.29

Fortrea Holdings Inc. (NASDAQ:FTRE) has received a consensus recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $37.29.

A number of brokerages have recently weighed in on FTRE. Robert W. Baird initiated coverage on Fortrea in a research report on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price target on the stock. William Blair began coverage on Fortrea in a research report on Friday, January 5th. They set a “market perform” rating on the stock. Jefferies Financial Group initiated coverage on shares of Fortrea in a research note on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Barclays decreased their target price on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th.

Institutional Trading of Fortrea

Several institutional investors have recently added to or reduced their stakes in FTRE. Whittier Trust Co. acquired a new position in shares of Fortrea in the fourth quarter worth $25,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Fortrea in the fourth quarter valued at $25,000. ZRC Wealth Management LLC purchased a new stake in Fortrea in the fourth quarter valued at $27,000. Glassman Wealth Services purchased a new stake in Fortrea in the fourth quarter valued at $28,000. Finally, Allworth Financial LP purchased a new stake in shares of Fortrea in the fourth quarter valued at about $28,000.

Fortrea Stock Performance

Shares of NASDAQ:FTRE opened at $36.00 on Friday. Fortrea has a fifty-two week low of $24.92 and a fifty-two week high of $41.02. The business has a 50-day simple moving average of $37.60 and a two-hundred day simple moving average of $33.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62.

Fortrea (NASDAQ:FTRE) last released its earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million during the quarter, compared to the consensus estimate of $779.09 million. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Fortrea will post 1.06 EPS for the current fiscal year.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.