Fortrea Holdings Inc. (NASDAQ:FTRE) Receives $17.25 Average PT from Analysts

Fortrea Holdings Inc. (NASDAQ:FTRE) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $17.25.

A number of research firms have recently commented on FTRE. Truist Financial set a $19.00 price target on shares of Fortrea in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a report on Tuesday, April 21st. TD Cowen reiterated a “buy” rating on shares of Fortrea in a report on Wednesday, May 6th. Robert W. Baird set a $20.00 target price on shares of Fortrea in a research report on Wednesday, May 6th. Finally, Mizuho raised their target price on shares of Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th.

Insider Activity at Fortrea

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $9.07, for a total transaction of $45,903.27. Following the transaction, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. This trade represents a 6.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 8,792 shares of company stock worth $80,014 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Fortrea

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 1,072 shares during the period. Toronto Dominion Bank purchased a new position in shares of Fortrea during the fourth quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Fortrea by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after acquiring an additional 980 shares during the period. Allworth Financial LP raised its holdings in shares of Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings 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 in the last quarter.

Fortrea Trading Down 2.5%

Shares of NASDAQ FTRE opened at $15.36 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day moving average price is $11.61 and its 200-day moving average price is $13.00. Fortrea has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -3.13, a PEG ratio of 0.48 and a beta of 2.12.

Fortrea (NASDAQ:FTRE) last released its earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share 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 $628.51 million. On average, sell-side analysts expect that Fortrea will post 0.8 earnings per share for the current year.

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.