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

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.75.

A number of analysts have issued reports on FTRE shares. Mizuho raised their target price on Fortrea from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Citigroup upped their price target on Fortrea from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird set a $20.00 price objective on Fortrea in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th.

Institutional Trading of Fortrea

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC increased its holdings in shares of Fortrea by 1.7% during the 4th quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock worth $632,000 after purchasing an additional 627 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Fortrea by 3.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock valued at $365,000 after buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Fortrea by 9.5% in the first quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock valued at $103,000 after buying an additional 953 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Fortrea by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after buying an additional 980 shares during the period. Finally, Larson Financial Group LLC grew its position in 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 in the last quarter.

Fortrea Trading Up 0.1%

Shares of NASDAQ:FTRE opened at $19.52 on Friday. The company has a market cap of $1.85 billion, a P/E ratio of -3.98, a P/E/G ratio of 0.59 and a beta of 2.03. The stock’s 50-day moving average is $16.42 and its 200-day moving average is $13.75. Fortrea has a 52-week low of $5.26 and a 52-week high of $20.19. 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 posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 EPS for the quarter, topping 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 business had revenue of $636.50 million for the quarter, compared to analyst estimates of $628.50 million. Equities research analysts predict that Fortrea will post 0.8 earnings per share for the current year.

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.