Cohen Capital Management Inc. Has $994,000 Stock Holdings in Fortrea Holdings Inc. $FTRE

Cohen Capital Management Inc. decreased its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 45.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,104 shares of the company’s stock after selling 96,450 shares during the period. Cohen Capital Management Inc. owned 0.13% of Fortrea worth $994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in Fortrea in the first quarter valued at approximately $575,000. Brandes Investment Partners LP increased its holdings in shares of Fortrea by 72.8% during the 2nd quarter. Brandes Investment Partners LP now owns 224,272 shares of the company’s stock worth $1,108,000 after acquiring an additional 94,448 shares during the last quarter. AQR Capital Management LLC raised its stake in Fortrea by 181.9% in the 1st quarter. AQR Capital Management LLC now owns 1,095,282 shares of the company’s stock valued at $8,269,000 after acquiring an additional 706,779 shares during the period. Millennium Management LLC lifted its holdings in Fortrea by 1,625.8% during the 1st quarter. Millennium Management LLC now owns 3,499,220 shares of the company’s stock valued at $26,419,000 after purchasing an additional 3,296,461 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in Fortrea by 134.9% during the first quarter. Voya Investment Management LLC now owns 303,901 shares of the company’s stock worth $2,294,000 after purchasing an additional 174,549 shares during the period.

Fortrea Trading Down 1.1%

Shares of FTRE stock opened at $16.62 on Tuesday. The stock has a market cap of $1.54 billion, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 0.49 and a beta of 1.59. Fortrea Holdings Inc. has a 1 year low of $3.97 and a 1 year high of $20.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81. The stock has a 50 day simple moving average of $13.64 and a 200 day simple moving average of $9.95.

Fortrea (NASDAQ:FTRE) last posted 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 company had revenue of $701.30 million for the quarter, compared to the consensus estimate of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. On average, research analysts predict that Fortrea Holdings Inc. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a report on Wednesday, October 8th. Jefferies Financial Group lifted their target price on shares of Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 9th. Zacks Research cut shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Wall Street Zen downgraded shares of Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $21.00 in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.28.

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.