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

Fortrea Holdings Inc. (NASDAQ:FTRE) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $17.75.

A number of brokerages recently weighed in on FTRE. Wall Street Zen downgraded shares of Fortrea from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial set a $19.00 price target on shares of Fortrea in a research report on Wednesday, May 6th. Mizuho increased their price target on Fortrea from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. TD Cowen reissued a “buy” rating on shares of Fortrea in a research report on Wednesday, May 6th. Finally, Barclays lifted their price objective on Fortrea from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 24th.

Institutional Investors Weigh In On Fortrea

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its stake in Fortrea by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after purchasing an additional 627 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings 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 purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Fortrea by 9.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,936 shares of the company’s stock worth $103,000 after purchasing an additional 953 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fortrea by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after purchasing an additional 980 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Fortrea by 136.7% in the 4th quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the period.

Fortrea Stock Performance

NASDAQ:FTRE opened at $18.49 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. Fortrea has a fifty-two week low of $5.26 and a fifty-two week high of $18.67. The company has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $13.69. The company has a market capitalization of $1.75 billion, a PE ratio of -3.77, a P/E/G ratio of 0.54 and a beta of 2.03.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.13. Fortrea had a negative net margin of 16.50% and a positive return on equity of 9.51%. The firm had revenue of $636.50 million for the quarter, compared to the consensus estimate of $628.50 million. Research analysts anticipate 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.