Fortrea (NASDAQ:FTRE) PT Lowered to $31.00 at Evercore ISI

Fortrea (NASDAQ:FTREGet Free Report) had its price target reduced by Evercore ISI from $43.00 to $31.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 7.75% from the company’s current price.

Several other analysts have also recently issued reports on FTRE. Robert W. Baird raised shares of Fortrea from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $45.00 to $36.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortrea in a report on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. Finally, Barclays dropped their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.57.

View Our Latest Research Report on FTRE

Fortrea Stock Down 0.2 %

Fortrea stock opened at $28.77 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.62 and a current ratio of 1.47. The firm has a 50 day moving average price of $37.34 and a 200 day moving average price of $34.18. Fortrea has a fifty-two week low of $24.92 and a fifty-two week high of $41.02. The company has a market capitalization of $2.57 billion and a PE ratio of -20.70.

Fortrea (NASDAQ:FTREGet Free Report) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter. Fortrea had a negative net margin of 4.11% and a positive return on equity of 4.76%. The firm had revenue of $662.10 million during the quarter, compared to analyst estimates of $754.58 million. The firm’s revenue was down 4.6% compared to the same quarter last year. Research analysts expect that Fortrea will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On Fortrea

Several institutional investors have recently modified their holdings of the company. Whittier Trust Co. acquired a new stake in Fortrea in the fourth quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Fortrea in the 4th quarter valued at about $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Fortrea during the 4th quarter worth about $27,000. Glassman Wealth Services purchased a new stake in Fortrea during the fourth quarter worth approximately $28,000. Finally, Allworth Financial LP acquired a new position in Fortrea in the fourth quarter valued at approximately $28,000.

About Fortrea

(Get Free Report)

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.

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