Fortrea Holdings Inc. (NASDAQ:FTRE) Receives Average Recommendation of “Hold” from Brokerages

Fortrea Holdings Inc. (NASDAQ:FTRE) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.1667.

A number of equities analysts recently issued reports on FTRE shares. Citigroup reiterated a “neutral” rating on shares of Fortrea in a research report on Tuesday, October 7th. Mizuho set a $11.00 target price on shares of Fortrea in a research note on Friday. Wall Street Zen cut Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Zacks Research downgraded Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fortrea in a report on Wednesday, October 8th.

Fortrea Price Performance

Fortrea stock opened at $11.25 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. Fortrea has a 52 week low of $3.97 and a 52 week high of $25.28. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.00, a price-to-earnings-growth ratio of 0.54 and a beta of 1.86. The stock has a fifty day moving average of $10.06 and a 200-day moving average of $7.32.

Fortrea (NASDAQ:FTRE) last released its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $701.30 million during the quarter, compared to the consensus estimate of $643.43 million. Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. Fortrea has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Fortrea will post 0.51 earnings per share for the current fiscal year.

Insider Activity at Fortrea

In other Fortrea news, CFO Jill G. Mcconnell sold 4,886 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $8.01, for a total transaction of $39,136.86. Following the sale, the chief financial officer directly owned 54,770 shares of the company’s stock, valued at $438,707.70. The trade was a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erin L. Russell purchased 9,854 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were acquired at an average cost of $10.15 per share, with a total value of $100,018.10. Following the purchase, the director directly owned 9,854 shares of the company’s stock, valued at approximately $100,018.10. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 10,311 shares of company stock valued at $94,635 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Institutional Trading of Fortrea

Several institutional investors have recently modified their holdings of FTRE. Allworth Financial LP raised its position in Fortrea by 6,802.4% during 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 last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 raised its position in shares of 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 acquiring an additional 3,831 shares during the last quarter. Osaic Holdings Inc. lifted its stake 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 during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Fortrea in the first quarter valued at approximately $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.