Fortrea Holdings Inc. (NASDAQ:FTRE) Receives $16.15 Consensus Price Target from Brokerages

Shares of Fortrea Holdings Inc. (NASDAQ:FTRE) have received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One 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 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.15.

Several research firms have recently issued reports on FTRE. Mizuho set a $15.00 target price on shares of Fortrea in a report on Friday, January 9th. Robert W. Baird reduced their price objective on shares of Fortrea from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Barclays decreased their price objective on shares of Fortrea from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Citigroup upgraded Fortrea from a “neutral” rating to a “buy” rating and boosted their target price for the company from $12.00 to $21.00 in a research report on Thursday, December 11th. Finally, Truist Financial set a $22.00 target price on Fortrea and gave the company a “buy” rating in a research note on Thursday, January 8th.

Fortrea Stock Performance

NASDAQ:FTRE opened at $9.70 on Friday. The firm has a market capitalization of $906.95 million, a PE ratio of -0.89, a PEG ratio of 0.34 and a beta of 1.80. The stock’s fifty day moving average is $13.29 and its 200 day moving average is $12.47. Fortrea has a fifty-two week low of $3.97 and a fifty-two week high of $18.67. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). Fortrea had a positive return on equity of 6.23% and a negative net margin of 36.21%.The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.22 million. On average, sell-side analysts anticipate that Fortrea will post 0.51 earnings per share for the current year.

Insider Transactions at Fortrea

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total value of $45,903.27. Following the transaction, the chief financial officer owned 69,796 shares of the company’s stock, valued at $633,049.72. This represents a 6.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 9,673 shares of company stock worth $92,242. 0.38% of the stock is owned by insiders.

Institutional Trading of Fortrea

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Fortrea by 9.0% during the fourth quarter. Invesco Ltd. now owns 794,615 shares of the company’s stock valued at $13,707,000 after purchasing an additional 65,787 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Fortrea by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,285 shares of the company’s stock worth $643,000 after buying an additional 1,486 shares during the period. Toronto Dominion Bank purchased a new position in Fortrea in the 4th quarter worth about $51,000. Janus Henderson Group PLC bought a new stake in Fortrea during the 4th quarter valued at about $789,000. Finally, Gotham Asset Management LLC bought a new stake in Fortrea during the 4th quarter valued at about $362,000.

Fortrea Company Profile

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.