Fortrea (NASDAQ:FTRE) Shares Gap Down to $37.41

Fortrea Holdings Inc. (NASDAQ:FTRE) gapped down before the market opened on Monday . The stock had previously closed at $37.41, but opened at $35.17. Fortrea shares last traded at $36.31, with a volume of 414,663 shares trading hands.

Analyst Upgrades and Downgrades

FTRE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a report on Wednesday, March 6th. They issued a “hold” rating and a $36.00 price objective on the stock. Barclays decreased their price objective on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Finally, Robert W. Baird assumed coverage on shares of Fortrea in a research note on Friday, March 22nd. They set a “neutral” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortrea currently has an average rating of “Hold” and an average target price of $37.29.

Fortrea Stock Performance

The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average of $38.01 and a 200 day moving average of $33.96.

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

Institutional Investors Weigh In On Fortrea

A number of hedge funds have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Fortrea in the 4th quarter worth about $25,000. Whittier Trust Co. bought a new stake in shares of Fortrea in the 4th quarter valued at approximately $25,000. ZRC Wealth Management LLC purchased a new stake in Fortrea during the 4th quarter valued at $27,000. Allworth Financial LP bought a new stake in Fortrea in the fourth quarter worth $28,000. Finally, Glassman Wealth Services purchased a new position in Fortrea during the fourth quarter worth $28,000.

Fortrea Company Profile

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.