Fortrea (NASDAQ:FTRE) Upgraded by William Blair to “Hold” Rating

Fortrea (NASDAQ:FTRE) was upgraded by equities research analysts at William Blair to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

FTRE has been the subject of a number of other research reports. Robert W. Baird set a $23.00 price objective on shares of Fortrea in a report on Thursday. TD Cowen restated a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Wall Street Zen raised Fortrea from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho lifted their price target on shares of Fortrea from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $20.00 price objective on shares of Fortrea in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.95.

Fortrea Stock Up 0.5%

Fortrea stock opened at $19.17 on Wednesday. Fortrea has a 52 week low of $5.26 and a 52 week high of $21.39. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -21.07, a price-to-earnings-growth ratio of 0.46 and a beta of 2.03. The business’s 50-day moving average price is $17.05 and its 200 day moving average price is $13.84. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.98.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $647.57 million. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. As a group, sell-side analysts anticipate that Fortrea will post 0.86 earnings per share for the current year.

Institutional Trading of Fortrea

Several large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in shares of Fortrea by 136.7% during the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Fortrea during the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 980 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Fortrea by 74.3% in the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Fortrea by 37.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,386 shares of the company’s stock valued at $71,000 after purchasing an additional 2,303 shares during the last quarter.

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.