Barclays Issues Positive Forecast for Fortrea (NASDAQ:FTRE) Stock Price

Fortrea (NASDAQ:FTRE) had its price target upped by equities research analysts at Barclays from $8.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 14.09% from the stock’s previous close.

Several other equities analysts also recently weighed in on FTRE. Citigroup restated a “neutral” rating on shares of Fortrea in a report on Tuesday, October 7th. Mizuho increased their price target on shares of Fortrea from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Jefferies Financial Group lifted their price objective on Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a research report on Tuesday, September 9th. Zacks Research lowered Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortrea presently has an average rating of “Hold” and a consensus target price of $12.61.

Fortrea Price Performance

NASDAQ FTRE traded down $0.31 during mid-day trading on Thursday, hitting $11.64. The stock had a trading volume of 240,712 shares, compared to its average volume of 2,124,321. The company has a 50 day simple moving average of $10.01 and a 200 day simple moving average of $7.23. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -1.02, a P/E/G ratio of 0.42 and a beta of 1.86. Fortrea has a 52-week low of $3.97 and a 52-week high of $25.28. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.87.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Fortrea had a positive return on equity of 5.25% and a negative net margin of 37.57%.The firm had revenue of $701.30 million for the quarter, compared to analysts’ expectations of $643.43 million. Fortrea has set its FY 2025 guidance at EPS. Equities analysts forecast that Fortrea will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling at Fortrea

In other Fortrea news, Director Erin L. Russell purchased 9,854 shares of the stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $10.15 per share, for a total transaction of $100,018.10. Following the acquisition, the director directly owned 9,854 shares of the company’s stock, valued at $100,018.10. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jill G. Mcconnell sold 4,886 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $8.01, for a total transaction of $39,136.86. Following the transaction, the chief financial officer directly owned 54,770 shares of the company’s stock, valued at $438,707.70. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 72,354 shares of company stock worth $507,168 and sold 10,311 shares worth $94,635. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortrea

A number of institutional investors have recently added to or reduced their stakes in FTRE. Allworth Financial LP raised its holdings in shares of Fortrea by 6,802.4% in the 2nd quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after purchasing an additional 5,578 shares during the period. Nisa Investment Advisors LLC raised its holdings in Fortrea by 214.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after buying an additional 2,278 shares during the period. Brooklyn Investment Group grew its stake in Fortrea by 9,577.5% during the first quarter. Brooklyn Investment Group now owns 3,871 shares of the company’s stock worth $29,000 after buying an additional 3,831 shares during the period. Osaic Holdings Inc. increased its position in shares of Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after acquiring an additional 2,918 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Fortrea in the 1st quarter valued at $39,000.

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.