Fortrea Holdings Inc. (NASDAQ:FTRE) Given Consensus Rating of “Hold” by Brokerages

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have earned an average rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.6875.

FTRE has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Fortrea in a report on Wednesday, October 8th. Baird R W upgraded Fortrea from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Mizuho set a $11.00 price target on shares of Fortrea in a research report on Friday, November 7th. Wall Street Zen downgraded Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Robert W. Baird raised their price target on Fortrea from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd.

Fortrea Trading Up 1.9%

Shares of NASDAQ:FTRE opened at $10.41 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81. Fortrea has a 12-month low of $3.97 and a 12-month high of $25.05. The business has a 50 day moving average of $10.11 and a two-hundred day moving average of $7.48. The company has a market capitalization of $961.88 million, a PE ratio of -0.93, a PEG ratio of 0.48 and a beta of 1.86.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The firm had revenue of $701.30 million for the quarter, compared to analyst estimates of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. Fortrea has set its FY 2025 guidance at EPS. As a group, analysts forecast that Fortrea will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jill G. Mcconnell sold 4,886 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $8.01, for a total value of $39,136.86. Following the completion of the transaction, the chief financial officer owned 54,770 shares in the company, valued at $438,707.70. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erin L. Russell purchased 9,854 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were bought at an average cost of $10.15 per share, with a total value of $100,018.10. Following the transaction, the director directly owned 9,854 shares of the company’s stock, valued at $100,018.10. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 10,311 shares of company stock worth $94,635. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortrea

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Fortrea by 56.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,343 shares of the company’s stock worth $122,000 after buying an additional 6,270 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Fortrea during the first quarter worth $94,000. Principal Financial Group Inc. lifted its holdings in Fortrea by 2.6% in the first quarter. Principal Financial Group Inc. now owns 446,200 shares of the company’s stock worth $3,369,000 after acquiring an additional 11,247 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Fortrea by 93.3% in the 1st quarter. Cerity Partners LLC now owns 28,971 shares of the company’s stock worth $219,000 after purchasing an additional 13,983 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC boosted its holdings in shares of Fortrea by 20,380.0% during the first quarter. Bradley & Co. Private Wealth Management LLC now owns 16,384 shares of the company’s stock valued at $124,000 after acquiring an additional 16,304 shares during the period.

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.